Strong U.S. retail sales brighten economic outlook

The Commerce Department said on Monday that retail sales increased 0.5 percent last month. Data for May was revised higher to show sales rising 1.3 percent instead of the previously reported 0.8 percent gain. May’s gain in retail sales was the largest since September 2017. Economists polled by Reuters had forecast retail sales rising 0.5 percent in June. Retail sales in June increased 6.6 percent from a year ago. Excluding automobiles, gasoline, building materials and food services, retail sales were unchanged last month after an upwardly revised 0.8 percent increase in May.


Australian Retail Sales rose by 0.4%

Australian retail turnover rose 0.4 per cent in May 2018, seasonally adjusted, according to the latest Australian Bureau of Statistics (ABS) Retail Trade figures. This follows a 0.5 per cent rise in April 2018. "Department stores (3.9 per cent) led the rises," said Ben James, Director of Quarterly Economy Wide Surveys. "There was also a strong result in clothing, footwear and personal accessories, which rose 2.2 per cent. Both industries were able to rebound after unusually warm weather impacted April sales."


Australian Retail Sales up by 0.6%

The trend estimate rose 0.4% in February 2018. This follows a rise of 0.3% in January 2018 and a rise of 0.3% in December 2017. The seasonally adjusted estimate rose 0.6% in February 2018. This follows a rise of 0.2% in January 2018 and a fall of 0.5% in December 2017. In trend terms, Australian turnover rose 2.7% in February 2018 compared with February 2017. The following industries rose in trend terms in February 2018: Food retailing (0.3%), Household goods retailing (0.6%), Other retailing (0.4%), Cafes, restaurants and takeaway food services (0.4%), and Clothing, footwear and personal accessory retailing (0.4%). Department stores (-0.2%) fell in trend terms in February 2018.


U.S. Retail Sales down by 0.1%

U.S. retail sales unexpectedly fell in February for a third month, adding to signs that consumer spending will cool this quarter from the previous period’s hot pace, according to Commerce Department figures released Wednesday. Overall sales fell 0.1% (est. up 0.3%) after 0.1% decrease in prior month (prev. down 0.3%); Dec. figure revised to down 0.1%. Purchases at automobile dealers fell 0.9%, the second straight month with such a reading.


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