Retail sales in Australia fell -0.8% month-on-month in February, better than market forecasts of a -1.1% drop. and improving from -1.1% in the previous month.
” The final February release will include more granular details than likely highlight the impact of the ‘mini-blockades during the month in Victoria, while sales increased marginally in other states, ” Westpac analysts argued.
Description of retail sales
This survey of goods sold by retailers published by the Australian Bureau of Statistics is based on a sample of retail stores of different types and is considered an indicator of the growth rate of the economy. It shows the performance of the retail sector in the short and medium term. A result above the market consensus is bullish for the Australian dollar, while a result below is bearish.
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
