Preview of the retail sales data
- expected 0.3% m/m, prior 0.1%
ANZ:
- We expect retail sales growth to have picked up a little in February after a disappointing holiday season. We are expecting a rise of 0.3%m/m, with a rebound in department store sales and household goods driving the improvement.
Westpac:
- retail sales are expected to rise 0.3%. Westpac's forecast is for a 0.1% decline, continuing the run of soft results with business surveys suggesting very difficult conditions in the retail sector
RBC:
- February retail sales follow a very weak couple of months, with December sales falling 0.4% and January rebounding by only 0.1%. Leads online/electronic sales indicators from CBA and NAB suggest that there should be a slight recovery, hence we expect a moderate 0.3% m/m rise. This would still leave y/y growth at just 2.4%, the weakest in more than a year.
