Australia’s Retail Sales jump 0.5% MoM in July vs. 0.3% expected

Australia’s Retail Sales, a measure of the country’s consumer spending, jumped 0.5% in July on a monthly basis when compared to the expected 0.3% increase and June’s 0.8% decline, the latest data published by the Australian Bureau of Statistics (ABS) showed on Monday.

Key takeaways (via ABS)

Food retailing was relatively unchanged 0.0% (-$6.4m) in July, in seasonally adjusted terms.

Household goods retailing fell 0.2% (-$10.3m) in July, in seasonally adjusted terms.

Clothing, footwear and personal accessory retailing rose 2.0% ($56.7m) in July, in seasonally adjusted terms.

Department stores rose 3.6% ($65.1m) in July, in seasonally adjusted terms.

Other retailing rose 0.3% ($15.6m) in July, in seasonally adjusted terms.

Cafes, restaurants and takeaway food services rose 1.3% ($68.4m) in July, in seasonally adjusted terms.

Market reaction

AUD/USD failed to find any inspiration from the upbeat Australian data. The spot is trading at 0.6430, up 0.45% on the day, as of writing.