Australia February retail sales: +0.6% m/m(expected +0.3%), a good beat and good data
Westpac responding (this in very brer)
- Annual growth in nominal sales lifted to 3%yr, the strongest pace since July last year
The detail was positive ... the gain led by solid rises in 'discretionary' store types - The figures suggest some easing in the soft patch through Dec-Jan, possibly reflecting some relaxation in price competition as well as a firming in demand.
-
We also had building approvals data from Australia today which wasn't so great - but as I said prior and over the release, the market focus was on the retailing numbers.
AUd has been taken higher since the data:
