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Australian Retail Sales increased by 0.4%

Wednesday, Oct 05 2016

Australian retail turnover rose 0.4 per cent in August 2016, seasonally adjusted, according to the latest Australian Bureau of Statistics (ABS) Retail Trade figures. This follows a relatively unchanged (0.0 per cent) July 2016. In seasonally adjusted terms, the largest rise was in department stores (3.5 per cent), which followed a fall in July of 5.8 per cent. There were also seasonally adjusted rises in cafes, restaurants and takeaway food services (1.2 per cent), food retailing (0.3 per cent) and household goods retailing (0.2 per cent). There were falls in other retailing (-0.6 per cent) and clothing, footwear and personal accessory retailing (-0.4 per cent).

In seasonally adjusted terms, there were rises in Victoria (0.7 per cent), New South Wales (0.5 per cent), Queensland (0.7 per cent), South Australia (0.4 per cent) and the Australian Capital Territory (0.7 per cent). There were falls in Western Australia (-0.5 per cent), Northern Territory (-0.5 per cent) and Tasmania (-0.1 per cent). The trend estimate for Australian retail turnover rose 0.1 per cent in August 2016 following a 0.1 per cent rise in July 2016. Compared to August 2015 the trend estimate rose 2.6 per cent. Online retail turnover contributed 3.3 per cent to total retail turnover in original terms.

 

Aussie is currently being traded around 0.76 handle. Pair is likely to find support around 0.7550 area and resistance above 0.7650 level.

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