Australia Retail Sales Add 0.1% In July Retail sales in Australia - TopicsExpress

Australia Retail Sales Add 0.1% In July Retail sales in Australia gained a seasonally adjusted 0.1 percent in July compared to the previous month, the Australian Bureau of Statistics said on Tuesday, standing at A$21.824 billion. That missed expectations for an increase of 0.4 percent following the flat reading in June and a 0.2 percent increase in May. By category, department store sales were down 1.3 percent and other retailing shed 0.3 percent. Sales in food retailing (0.1 percent), cafes, restaurants and takeaway food services (0.2 percent), clothing, footwear and personal accessory retailing (0.3 percent) and household goods retailing (0.1 percent) moved higher. By region, sales in New South Wales were down -0.2 percent), along with Victoria (-0.1 percent), Western Australia (-0.1 percent) and the Australian Capital Territory (-0.1 percent). Queensland (0.0 percent) was relatively unchanged, while sales in South Australia (0.6 percent), the Northern Territory (0.4 percent) and Tasmania (0.1 percent) moved higher. Also on Tuesday, the ABS said that Australia posted a current account deficit of A$9.35 billion in the second quarter of 2013, down 7 percent on quarter. The headline figure missed forecasts for a shortfall of A$8.5 billion after posting a downwardly revised deficit of A$8.74 billion in the first quarter (originally reported as a deficit of A$8.5 billion). The balance on goods and services was a seasonally adjusted deficit of A$18 million, down from a A$122 million surplus in the previous three months. The primary income deficit rose A$479 million or 6 percent to A$9.008 billion. In seasonally adjusted chain volume terms, the surplus on goods and services fell A$154 million or 2 percent from A$7.306 billion in Q1 to A$7.152 billion in the second quarter. This is expected to detract 0.04 percentage points from growth in Q2 volume measure of GDP. Upon the release of the data, the Australian dollar eased against other major currencies, trading near 0.9006 against the greenback, 89.58 against the yen, 1.1509 against the kiwi and 1.4648 against the euro.

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