Australia retail sales growth slows to 0.2% in February
Reuters
Published Mar 27, 2023 08:49PM ET
SYDNEY (Reuters) - Australian retail sales eked out a meagre gain in February after wild swings around year-end holidays, indicating shoppers are reining in spending in the face of higher costs of living and rising interest rates.
Data from the Australian Bureau of Statistics (ABS) on Tuesday showed retail sales rose 0.2% in February from January, when they picked up a revised 1.8%. Sales of A$35.14 billion ($23.42 billion) were 6.4% higher than a year earlier.
The result was just a touch above median forecasts of a rise of 0.1%. Estimates from analysts ranged from minus 1.2% to plus 1.3%.
($1 = 1.5004 Australian dollars)
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.