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Aus retail sales as expected, trade deficit beats estimates

FXStreet (Bali) - Australian retail sales s.a. (MoM) (Jul) came at +0.4% vs 0.4% exp and 0.6% last. Meanwhile, the trade balance (Jul) was -1,359M vs -1,510M exp and -1,683M prior, with exports at +1 vs 0% last, and imports at +0 vs -1% last.

Retail sales key figures

he trend estimate rose 0.1% in July 2014. This follows a rise of 0.2% in June 2014 and a rise of 0.1% in May 2014. The seasonally adjusted estimate rose 0.4% in July 2014. This follows a rise of 0.6% in June 2014 and a fall of 0.3% in May 2014. In trend terms, Australian turnover rose 5.2% in July 2014 compared with July 2013.

The following industries rose in trend terms in July 2014: Food retailing (0.3%), Household goods retailing (0.2%) and Cafes, restaurants and takeaway food services (0.1%). Clothing, footwear and personal accessory retailing (-0.4%), Department stores (-0.2%) and Other retailing (-0.1%) fell in trend terms in July 2014.

The following states and territories rose in trend terms in July 2014: New South Wales (0.3%), Western Australia (0.1%), South Australia (0.2%), Tasmania (0.2%) and the Australian Capital Territory (0.2%). Victoria was relatively unchanged (0.0%). Queensland (-0.1%) and the Northern Territory (-0.3%) fell in trend terms in July 2014.

Trade balance key figures

BALANCE ON GOODS AND SERVICES: In trend terms, the balance on goods and services was a deficit of $1,915m in July 2014, an increase of $385m (25%) on the deficit in June 2014. In seasonally adjusted terms, the balance on goods and services was a deficit of $1,359m in July 2014, a decrease of $205m (13%) on the deficit in June 2014.

CREDITS (EXPORTS OF GOODS AND SERVICES): In seasonally adjusted terms, goods and services credits rose $280m (1%) to $27,022m. Non-monetary gold rose $150m (14%), rural goods rose $75m (2%), non-rural goods rose $44m and net exports of goods under merchanting rose $1m (100%). Services credits rose $10m.

DEBITS (IMPORTS OF GOODS AND SERVICES): In seasonally adjusted terms, goods and services debits rose $74m to $28,381m. Intermediate and other merchandise goods rose $89m (1%) and consumption goods rose $19m. Non-monetary gold fell $77m (23%) and capital goods fell $2m. Services debits rose $45m (1%).

Australia Imports climbed from previous -1% to 0% in July

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