Australian bank previews of the retails sales numbers for August are here from earlier:
- Australian Retail Sales data due today - more preview
- Australian Retail Sales data due today - preview
This now via RBC:
- We have been surprised thus far in 2018 by the strength of the Australian consumer, however we retain the view that a falling savings rate can't continue to provide upside to consumption, and as part of this we expect retail sales to slow into the second half of the year.
- We see scope for only a small 0.1% m/m gain in August following a flat result in July. We note this still points to y/y growth jumping to a heady 3.6% after a very soft monthly reading in August last year, however, and feeding into a broader retail story which has certainly seen improvement since a slow start to the year
