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Australia: Retail sales up, trade balance & jobs mix

FXStreet (Bali) - Australia has published a mix of local data, with retail sales for Sept beating estimates, while trade balance was softer-than-expected, and employment revisions came mixed.

Key headlines

Australia Imports up to 6% in September from previous -3%

Australia Exports increased to 1% in September from previous -2%

Australia Trade Balance below forecasts (-1950M) in September: Actual (-2261M)

Australia Retail Sales s.a. (MoM) registered at 1.2% above expectations (0.4%) in September

Australian Sept employment revised to -23.7k, from -29.7k - ABS

Australian Sept unemployment rate revised to 6.2 pct vs 6.1 pct -abs

Key data - retail sales

CURRENT PRICES: The trend estimate rose 0.3% in September 2014. This follows a rise of 0.3% in August 2014 and a rise of 0.3% in July 2014. The seasonally adjusted estimate rose 1.2% in September 2014. This follows a rise of 0.1% in August 2014 and a rise of 0.4% in July 2014. In seasonally adjusted terms, Electrical and electronic goods retailing rose 9.2% in September 2014. This figure was influenced by the release of the iPhone 6 during the month. In trend terms, Australian turnover rose 5.0% in September 2014 compared with September 2013.

The following industries rose in trend terms in September 2014: Food retailing (0.3%), Cafes, restaurants and takeaway food services (0.6%), Other retailing (0.5%), Household goods retailing (0.3%) and Clothing, footwear and personal accessory retailing (0.2%). Department stores (-0.3%) fell in trend terms in September 2014. The following states and territories rose in trend terms in September 2014: New South Wales (0.5%), Victoria (0.5%), Western Australia (0.4%), South Australia (0.3%), the Australian Capital Territory (0.8%) and Tasmania (0.1%). Queensland (-0.1%) and the Northern Territory (-0.2%) fell in trend terms in September 2014.

In volume terms, the trend estimate for Australian turnover rose 0.5% in the September quarter 2014.


Key data - trade balance

BALANCE ON GOODS AND SERVICES: In trend terms, the balance on goods and services was a deficit of $1,850m in September 2014, an increase of $50m (3%) on the deficit in August 2014. In seasonally adjusted terms, the balance on goods and services was a deficit of $2,261m in September 2014, an increase of $1,248m (123%) on the deficit in August 2014.

CREDITS (EXPORTS OF GOODS AND SERVICES): In seasonally adjusted terms, goods and services credits rose $269m (1%) to $26,457m. Non-monetary gold rose $585m (60%), rural goods rose $74m (2%) and net exports of goods under merchanting rose $2m (25%). Non-rural goods fell $443m (3%). Services credits rose $51m (1%).

DEBITS (IMPORTS OF GOODS AND SERVICES): In seasonally adjusted terms, goods and services debits rose $1,517m (6%) to $28,718m. Intermediate and other merchandise goods rose $974m (11%), consumption goods rose $186m (3%), capital goods rose $178m (3%) and non-monetary gold rose $135m (59%). Services debits rose $43m (1%).

Australian Sept employment revised to -23.7k, from -29.7k - ABS

Australian Sept employment has been revised to -23.7k, from -29.7k, according to ABS sources.
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