Analysts at Australia and New Zealand Banking Group (ANZ) provide their afterthoughts on the Australian monthly Retail Sales data. Key quotes “Retail
Analysts at Australia and New Zealand Banking Group provide their afterthoughts on the Australian monthly Retail Sales data.“Retail sales came in stronger than expected, rising 0.5% m/m in July. Though this was not enough to recover the 0.8% m/m loss in June. Despite rapid inflation, there’s been little growth in monthly retail sales throughout 2023, with the series only up 0.9% since January.”
“We think households will continue to tighten their spending throughout 2023. We do, however, see some upside to spending in 2024 as inflation moderates and real household incomes turn positive.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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