Australia Retail Sales for June, preliminary: -1.8% m/m (expected -0.5%)

Flash reading for June retail sales come in much, much lower than expected

-1.8 % m/m

• expected -0.5% m/m, prior +0.4%

State of Victoria the worst at -3.5%, lockdown impact.

• NSW will be worse in July as its lockdown weighs, but in June wasn't great at -2%

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Background to this is here:

• Australian retail sales data due today - what to expect (spoiler ... sad)