A beat on expectations and a firming up for this data point after may, many months of disappointment
Comes in at 0.4% m/m
- expected +0.3% m/m
- prior flat at 0.0%
For the year on year
- trend terms +2.6% y/y compares to the March result of +3.2% y/y
The following industries rose in trend terms in April 2018:
- Food retailing (0.4%),
- Household goods retailing (0.4%),
- Other retailing (0.2%),
- and Cafes, restaurants and takeaway food services (0.1%)
Industries that fell in trend terms in April 2018
- Clothing, footwear and personal accessory retailing (-0.2%)
- and Department stores (-0.1%)
Retail sales account for around 18% of gross domestic product (GDP)
Household consumption accounts for around 57% … so a boost in in consumer spending is needed for steady and/or growing economy.
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For background, check out the previews at these two posts:
