The data week is not done from Australia, due Friday 2 August 2018 at 0130GMT
Retail Sales for June
- expected +0.3% m/m
- prior +0.4
Q2 Retail Sales excluding inflation data also
- expected +0.8% q/q
- prior +0.2%
Barclays:
- With reasonable gains in employment and continued increases in tourist arrivals, retail spending should remain relatively well supported, while real retail sales in Q2 will likely improve, albeit only modestly.
ANZ;
- Retail sales have surprised on the upside in recent months, after weakness in Q1. We expect this to have continued in June consistent with improving consumer confidence. For the moment, households look to have taken lower house prices and higher fuel prices in their stride. Our random forest model supports this forecast. This would see retail volumes up 0.8% q/q (given our assumptions about the deflator), providing a solid base for private consumption in the national accounts on 5 September.
(bolding is mine)
