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Financial News: Australia Retail Sales Drop 0.3% In January

Australia Retail Sales Drop 0.3% In January

03/05/2020 - 20:30:00 (RTTNews)

(RTTNews) - The value of retail sales in Australia was down a seasonally adjusted 0.3 percent on month in January, the Australian Bureau of Statistics said on Friday - coming in at A$27.632 billion.

That missed forecasts for a flat reading following the downwardly revised 0.7 percent decline in December (originally 0.5 percent).

By category, sales were up for food retailing (0.2 percent), cafes, restaurants and takeaway food services (0.1 percent), and clothing, footwear and personal accessory retailing (0.1 percent).

Household goods retailing (0.0 percent), and other retailing (0.0 percent) were relatively unchanged, while department stores (-0.3 percent) were down.

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