No RBA red flag in Aussie retail sales

The ABS today released retail sales data for February, with sales coming in bang on expectations at 0.2% month-on-month:

The below table from Alex Joiner at IFM Investors shows the breakdown between sub-categories:

Joiner believes there are clear signs of a retail slowdown, but not a red flag for the RBA to change course next week.

Specifically, the RBA noted in the minutes last week that retail was something they would look at before next week’s meeting:

Tomorrow’s Monthly Consumer Price Index indicator release will be most important, however.