Australia: Retail sales growth inches down in February
Latest reading: Retail sales increased 0.2% month on month in seasonally adjusted terms in February (January: +0.3% mom s.a.). Looking at the details of the release, Ferbruary saw slower growth in textiles and food retailing sales. Meanwhile, sales of household goods fell at a softer pace and growth in department stores retailing strengthened.
Meanwhile, annual average retail sales growth fell to 2.6% in February (January: +3.0%), signaling a worsening trend in the retail trade sector.