Australia Retail Sales for July fall more than was expected at -2.7% m/m
expected -2.3% m/m, prior -1.8%
With the ongoing lockdowns in Australia's two largest cities of Sydney and Melbourne, and their respective states, its not looking too good for August either. Oh ... and its the 27th of August, so lockdowns continuing into September, for sure, is not too encouraging for the Sep result either!
As a personal aside, those who join in with the Asia session each day will know I took a week off (August 16 - 20) partially because I had a lot to do outside of ForexLive and partially because I hadn't taken a break for a while, I was awaiting the opportunity to head off to somewhere sunnier. But, with a 5km travel limit imposed on the city where I live I stayed local during my time off. The city is in lockdown but I managed to have a great time (I'm near the beach and most days were sunny, if a bit cool). However, I kept track of my excess spending (I spend more when on holidays - usually travel, accommodation and what have you) ... and I am afraid I was no help at all with the retails sales figures. All I bought were a few takeaway coffees and snacks. There wasn't much else to splash out on. Dunno how this applies to the rest of Sydney and Melbourne but I suspect it might be indicative for quite a few people.
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The preliminary guide figures for this data are no longer being published.
Background: Australian retail sales data for July is due Friday - what to expect
