Australia - Retail Sales for February: -0.1 % m/m (expected +0.3% m/m)

Australia - Retail Sales for February come in at a terrible miss, down 0.1% m/m

• expected +0.3%
• prior +0.4%

For the y/y, up 2.7%

• Lowest since July of 2013

RBA Governor Lowe has been expressing concern over slow consumption growth, citing high debt levels as a constraint. Also slow wage growth. Retail is a big part of the domestic economy, today's data point is bad news.

Of the 3 data points out in Australia at 11.30am local time, this one, and

• Australia - Building Approvals (February): +8.3% m/m (expected -1.5%)
• Australia - ANZ's job ads (March): +0.3% m/m (prior -0.7%)

its this retail sales data that is the most focus ... Lowe's concerns are a good summary of why it's the focus.

The Australian dollar is a little lower after the data:

ANZ comment:

• Not really any good news in Australian retail sales