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Australia Retail Sales Fall Less Than Expected

Australia retail sales declined at a slower-than-expected pace in August, data from the Australian Bureau of Statistics showed on Tuesday.

Retail sales dropped 1.7 percent on a monthly basis, but slower than the 2.7 percent decline posted in July. This was the third consecutive fall in retail sales.

Economists had forecast a monthly fall of 2.5 percent in August.

On a yearly basis, retail sales were down 0.7 percent, following a 3.1 percent decrease in July.

Clothing, footwear and personal accessory retailing logged the biggest fall of 15.7 percent.

Department stores sales slid 10.2 percent and household goods retailing dropped 2.3 percent. Cafes, restaurants, and takeaway food services fell 7 percent.

Meanwhile, food retailing gained 2.1 percent and other retailing climbed 0.8 percent.

The material has been provided by InstaForex Company – www.instaforex.com