Sport

Retail sales disappoint again, staying flat in September

Australian retail sales were flat in September from a month earlier, disappointing economists who had expected a 0.4% rise.

"I think it's a sign that households are struggling under the weight of low wage growth, rising utility bills, high household debt and now a stagnating housing market", Capital Economics' chief Australia & New Zealand economist Paul Dales said.

Sales for August were revised up slightly to a fall of 0.5% from a 0.6% decline when the figures were first released.

Upon the news of the lackluster data, the Aussie dollar sank from 77.14 US cents immediately before the read at 11:30 (AEDT), to 76.85 USA cents at 11:35 (AEDT).

In volume terms, the seasonally adjusted estimate for the September quarter edged up 0.1 percent, following a rise of 1.5 percent in the June quarter.

Retails sales rose by 0.1% in the third quarter from the second quarter, the ABS added.

"These sectors have been experiencing strong competition, especially from overseas players and online stores for a while now".

The retail data is in line with third quarter Consumer Price Index (CPI) and Producer Price Index (PPI) numbers published last week, which all indicate that inflationary pressures remain muted across most parts of the economy, CBA senior economist Gareth Aird said.



Like this

loading...
loading...

Latest


03 November 2017
Kiir accuses Sudan of being 'source of weapons' in South Sudan war
Due to the disputes, ties between Khartoum and Juba have often been tense since South Sudan gained independence in 2011. For his part, Salva Kiir said his talks with Bashir have led to a road map for moving forward.

03 November 2017
Roadside drug testing pilot program starts next week
Officers in five MI counties will be asking drivers if they can swab their mouth to see if they've been using drugs. The one-year oral fluid testing program will take place in five MI counties, including Berrien, Delta, Kent, St.

03 November 2017
Medtronic PLC (MDT) Shares Bought by Intact Investment Management Inc
Finally, BidaskClub lowered Medtronic PLC from a "strong-buy" rating to a "buy" rating in a research report on Monday, July 24th. Centurylink Investment Management Company increased Medtronic Hldg Ltd (MDT) stake by 231.15% reported in 2017Q2 SEC filing.

03 November 2017
Caroline Wozniacki Engaged to NBA Star David Lee ... Huuuuuge Rock!
Wozniacki announced her engagement with former New York Knicks and Golden State Warriors power forward David Lee on Twitter. Wozniacki split with golfer Rory McIlroy in 2014, days after their wedding invitations were sent out.

03 November 2017
6 dead after motorist drives onto NY bike path
The New York Times said investigators quickly recognized that Saipov had come to the attention of law enforcement in the past. Meanwhile, President Trump called the terror attack was carried out " by a very sick and deranged person ".

03 November 2017
TBI: Endangered child alert for missing 6-year-old, has been canceled
The Tennessee Bureau of Investigation has issued a Endangered Child Alert for a missing 6-year-old from East Tennessee. She is wearing the same black shirt in the photo below, white emoji trousers and bedazzled/sparkling tennis shoes.

03 November 2017
Mourinho: Tax case closed
The authorities allege that the two used tax havens in Belize and Uruguay to hide earnings from image rights. Mourinho responded by issuing a statement insisting that his taxes had been paid in full.

03 November 2017
Woman driving home with $10000 lottery prize wins $1 million
Kimberly Morris thought things were going well when she bought a lottery ticket on Monday and scratched off a $10,000 prize. For one Wake County woman, winning a $10,000 lottery scratch-off prize was just the start of a very good day.

03 November 2017
Equifax says execs who sold shares were not aware of data breach
The company has firmly denied that the executives engaged in insider trading, but observers have been skeptical. The Department of Justice is now conducting its own investigation of the trades.

03 November 2017
India to take up Zakir Naik's extradition with Malaysia
In July, the absconding televangelist - who enjoys a NRI status, was declared a "proclaimed offender" by a special court. The NIA has also filed a charge sheet against him for allegedly inciting youngsters to carry out terror activities.