Australia’s retail sales rises 0.3% in March, beats estimates

Australia's consumption, as represented by retail sales, rose slightly in the month of March, bettering estimates, the Australian Bureau of Statistics (ABS) reported on Tuesday. The retail sales arrived at +0.3 percent month-on-month, compared to the forecast of +0.2 percent and down from previous month's reading of +0.8 percent. 

March Key Points (via ABS)

Current Prices 

The trend estimate rose 0.3% in March 2019. This follows a rise of 0.3% in February 2019 and a rise of 0.2% in January 2019.

The seasonally adjusted estimate rose 0.3% in March 2019. This follows a rise of 0.9% in February 2019 and a rise of 0.1% in January 2019.

In trend terms, Australian turnover rose 3.0% in March 2019 compared with March 2018.

The following industries rose in trend terms in March 2019: Food retailing (0.4%), Cafes, restaurants and takeaway food services (0.4%), Clothing, footwear and personal accessory retailing (0.3%), and Other retailing (0.1%). Household goods retailing (-0.1%), and Department stores (-0.1%) both fell in trend terms in March 2019.

The following states and territories rose in trend terms in March 2019: New South Wales (0.4%), Queensland (0.3%), Victoria (0.2%), South Australia (0.1%), the Australian Capital Territory (0.1%), and the Northern Territory (0.1%). Western Australia was relatively unchanged (0.0%), and Tasmania (-0.2%) fell in trend terms in March 2019.