Australia Retail Sales for June -1.8% m/m, same as the flash reading (prior +0.4%)

The prelim for the month was -1.8% so the final is not much of a surprise. 

During June:

  • lock-downs in Melbourne for two weeks from May 28
  • and then in the back part of June for Sydney, Brisbane, Perth and Darwin

Looking ahead, July had lockdowns once again in Melbourne (Australia’s second-largest population city) and in Sydney (Australia’s largest population city) – Sydney’sl lockdown is ongoing although many retail outlets remain open. South Australia was also shut-in for a period in July. 

Further data also, Q2 retail sales +0.8% q/q vs. +0.9% expected. 

 

Meanwhile at the Reserve Bank of Australia yesterday:

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