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Financial News: Australia Retail Sales Jump 1.0% In April

Australia Retail Sales Jump 1.0% In April

05/31/2017 - 21:46:00 (RTTNews)

(RTTNews) - The total value of retail sales in Australia climbed a seasonally adjusted 1.0 percent on month in April, the Australian Bureau of Statistics said on Thursday - standing at A$25.891 billion.

That beat forecasts for an increase of 0.3 percent following the upwardly revised 0.2 percent contraction in March (originally -0.1 percent).

By category, sales were up for food retailing (0.2 percent), other retailing (0.4 percent), cafes, restaurants and takeaway food services (0.2 percent) and department Stores (0.4 percent).

Sales were down for clothing, footwear and personal accessory retailing (-0.4 percent) and household goods retailing (-0.1 percent).

By region, sales were up in Victoria (0.3 percent), New South Wales (0.1 percent), South Australia (0.4 percent), the Australian Capital Territory (0.3 percent) and Tasmania (0.1 percent).

Queensland (0.0 percent) and Western Australia (0.0 percent) were relatively unchanged, while the Northern Territory fell 0.1 percent.

Also on Thursday: . The ABS said that new capital expenditure in Australia was up a seasonally adjusted 0.3 percent on quarter in the first three months of 2017, coming in at A$27.969 billion.

That missed expectations for a gain of 0.5 percent following the 2.1 percent contraction in the three months prior.

The estimate for buildings and structures advanced 0.7 percent, while the estimate for equipment, plant and machinery eased 0.1 percent.

. The Australian manufacturing sector continued to expand in May, although at a slower pace, the Australian Industry Group said with a Performance of Manufacturing Index score of 54.8.

That's down sharply from 59.2 in April, although it remains well above the boom-or-bust line of 50 that separates expansion from contraction.

The April reading marks the eighth straight month of expansion for the sector.

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