FX.co ★ Australia Retail Sales Slump 0.4% In March

The Australian Bureau of Statistics reported on Tuesday that the retail sales in Australia for the month of March decreased by a seasonally adjusted 0.4 percent, equating to a total of A$35.663 billion. This figure falls below the projected decrease of 0.2 percent, following a 0.2 percent rise in February.

On a category level, the drop in sales was seen across household goods, clothing, department stores, and cafes, among other areas, whereas food sales saw an increase.

In terms of quarterly data, the volume of retail sales for the first quarter of 2024 plunged by 0.4 percent, following a 0.4 percent rise in the preceding three months.