Australia's July retail sales ease in July, miss expectations

Australia's retail sales for the month of July came at +0.0 % vs 0.3% expected and 0.3% last. The data serves as a negative input for the Aussie, knocking off the rate back below 0.80 handle. 

July retail sales - key points (current prices)

The trend estimate rose 0.3% in July 2017. This follows a rise of 0.4% in June 2017 and a rise of 0.4% in May 2017.

The seasonally adjusted estimate was relatively unchanged (0.0%) in July 2017. This follows a rise of 0.2% in June 2017 and a rise of 0.6% in May 2017.

In trend terms, Australian turnover rose 3.5% in July 2017 compared with July 2016.

The following industries rose in trend terms in July 2017: Food retailing (0.2%), Other retailing (0.6%), Household goods retailing (0.4%), Cafes, restaurants and takeaway food services (0.4%), and Clothing footwear and personal accessory retailing (0.6%). Department stores (-0.3%) fell in trend terms in July 2017.

The following states and territories rose in trend terms in July 2017: New South Wales (0.4%), Victoria (0.4%), Queensland (0.2%), Western Australia (0.2%), South Australia (0.2%), Tasmania (0.5%), the Australian Capital Territory (0.3%), and the Northern Territory (0.4%).