Sponsored Links
Retail sales in Australia were down a seasonally adjusted 0.2 percent on month in September, the Australian Bureau of Statistics said on Wednesday coming in at A$19.72 billion.
That was well below analyst expectations for a 0.5 percent monthly increase following the 0.7 percent gain in August that was revised down from 0.9 percent.
Department store sales were down 2.9 percent on month in September and clothing sales fell 0.9 percent, the data showed - although sales at cafes, restaurants and take-out food services were up 1 percent.
For the third quarter, retail sales were down 0.4 percent compared to the previous three months, standing at A$56.959 billion.
As an immediate result of the data, the Australian dollar plunged 0.50 U.S. cents, from $0.9035 to $0.8983. While it has recovered a bit, the data and the resulting currency move suggest a pause in the Reserve Bank of Australia's program of interest rate hikes at its next meeting in December.
The RBA has hiked rates by 25 basis points in each of its last two policy meetings - the first G20 nation to raise rates following the global economic downturn.
Also on Wednesday, housing construction approvals in Australia rose by 2.7 percent in September in seasonally adjusted terms as 12,476 approvals were issued in September compared to an upwardly revised 12,145 units in August. For the full year to September, construction approvals were up 11.7 percent.
The Bureau's trend estimate, which further smoothes the seasonally adjusted data, showed a 2.0 percent increase in total dwelling approvals from August and a 7.2 percent increase in approvals from a year earlier.
Finally, Australia's services sector saw an increase in activity in October, according to the Australian Industry Group and Commonwealth Bank of Australia. The Performance of Services Index for October increased 5.5 points to 54.8 from the September reading of 49.3.
Readings above 50.0 indicate growth of activity in the measured sector. The October reading was the first indication of expansion in four months and the highest index level in 19 months.
The sales of services sub-index was up 11.3 points to 59.7, new orders were up 7.8 points to 58.5 but employment in the sector fell 1.3 points to 48.6.
0 komentar:
Post a Comment