The Australian Bureau of Statistics (ABS) has just released retail sales figures for the month of April, which registered a seasonally-adjusted 0.2% increase over the month versus an expected 0.3% rise. Annual sales growth clocked in at 3.2% (3.4% trend):
Retail sales have been relatively weak in the southern states and relatively stronger in the resource states, with sales in New South Wales and the ACT also strong, but Northern Territory weakening sharply:
Finally, performance across the key components has also been mixed, with food retailing and cafes, restaurants & takeaway foods experiencing solid growth over the year, whereas clothing, footwear & personal accessories and department stores sales have been weak (see next chart).
Overall, a bit of a nothing result.
