Australian retail sales data from the Australian Bureau of Statistics
January comes in at 0.1% m/m for a big miss
- expected 0.3% m/m
- prior -0.4%
Well, at least its a bounce back from the shocker in December. Not by much. Retail sales data series continues along its weak path. Lower housing prices said to be creating a negative 'wealth effect' and at the same time weak wage growth not helping.
Out at the same time, January trade balance
- Check out the good performance in imports, ordinarily this would be a good sign for the economy … don't ignore this folks.
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