Australia data - Retail sales for June: +0.3% m/m (expected +0.2% m/m)

Australia - Retail sales for June up 0.3% m/m for a beat

• expected +0.2% m/m
• prior was +0.6%

In addition to the June figures, also the Q2 data for Retail Sales excl. inflation +1.5% q/q

• expected +1.2% q/q, prior +0.1%

The beat for June retails sales will be welcomed, this indicator had been on the slow side with slow wage growth cited as a big reason. Note, though, that the June result is not as strong as May.

Similarly for the Q2 data - much better than expected and a welcome sign.

Note, the RBA announcement was out at the same time, post is here:

• RBA says further rise in AUD would lower economic growth, inflation

I'll get more up the retails sales data in a separate post in a little while.