Australia retail sales rose 2.7% mom in June, above expectation of 2.4% mom. Over the June quarter, however, retail volumes stilled dropped -3.4% qoq. That’s the largest seasonally adjusted quarterly decline since the introduction of the GST in 2000.
Exports of goods and services rose 3% mom to AUD 26.2B while imports rose 1% mom to AUD 28.0B. Trade surplus widened slightly to AUD 8.2B, but missed expectation of AUD 8.8B.
