I posted a preview here earlier:
Data due at 0130GMT
- expected +0.3% m/m
- prior flat at 0.0%
More - this preview via Westpac:
- After a positive start to 2018 retailers have struggled again in recent months with sales stalling flat in March and the wash-up from Q1 showing more of the gains have been due to firmer prices with volume growth disappointing, especially for non food retail.
- The softer tone is set to carry into April judging by weak retail responses to private sector business surveys. We expect sales to post an insipid 0.2% gain in the month, likely taking trend growth to a sub-2% annual pace.
- Note that the wider consumer spending estimates to be published in the March quarter national accounts will be firmer than recent retail reads. Business surveys show much stronger conditions in other consumer related sectors (i.e. services) and consumer sentiment has held in slight positive territory. However, exactly how much of the weakness in retail is a sector specific issue remains an open question
