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03.09.2019 13:56

Australia’s retail sales unexpectedly fall in July

The Australian Bureau of Statistics (ABS) reported on Tuesday that Australia’s retail sales edged down 0.1 percent m-o-m in July, following an unrevised 0.4 percent m-o-m advance in June. That was the first monthly drop in retail sales since April.

Economists had forecast retail sales would increase 0.2 percent m-o-m in July.

According to the ABS, there were declines in four of the six industries, with cafes, restaurants and takeaway services (-0.6 percent m-o-m) leading the falls. There were also decreases in Clothing, footwear and personal accessory retailing (-1.0 percent m-o-m), Other retailing (-0.4 percent m-o-m) and Department stores (-0.2 percent m-o-m). Meanwhile, Food retailing (+0.3 percent m-o-m) and Household goods retailing (+0.1 percent m-o-m) posted gains in July.


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Forex is open 24 hours a day, 5 days a week (except national holidays), and it can be broken up to the following four regional markets: Australia and Oceania, Asia, Europe, and America. A Forex trading session opens at 23:00 GMT on Sunday in Japan and closes at 22:00 GMT on Friday in the USA.

 
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