The retail sales data will be due at 0130 GMT tomorrow
The data will also be accompanied by the Q1 figure. Estimate for March is for a +0.2% m/m figure, and the Q1 retail sales ex inflation number is expected to come in at +0.6% (but both previews below are expecting the Q1 figure to beat estimates).
Here are a couple of previews:
Commonwealth Bank of Australia
- Widespread discounting is continuing to weigh down on nominal sales growth
- We expect the monthly nominal sales to post a 0.3% rise in March after February's solid gain of 0.6%
- Q1 retail trade volumes are likely to increase by 1.3%
Westpac
- Consumer sentiment softened after a sharemarket sell-off and increased concerns about the outlook for the economy and jobs
- Retail responses to private sector business surveys also point to a softening in sales although these have provided conflicting guidance in recent months
- On balance we expect March to show renewed headwinds with a sub-par 0.2% gain
- After stalling in Q3, retail volumes rebounded 0.9% in Q4, rounding off a stop start year for retail
- The Q1 update should show a further rise but at a slower pace
- Points to a 0.8% rise in real retail sales
