Here's your 10-second guide to today's Australian retail sales report

Here’s the state of play.

  • Having increased by 0.5% and 0.7% respectively in January and February, the consensus view for March is for a rise of 0.4%.
  • Should retail sales in March match expectations, with no revisions to prior months, the annual rate will inch up to 4.5% from 4.3% in February.
  • Over the past year household goods retailing recorded the strongest sales growth at 9.3%. Department store sales, on the other hand, fell by 0.7%.
  • All States and Territories recorded increased sales over the past 12 months. NSW recorded the fastest growth at 5.6% while Tasmania (4.7%) and Victoria (4.5%) were second and third respectively. The Northern Territory recorded the slowest growth at 0.7%.
  • In February retail sales topped $A24 billion for the first time on record. From a decade earlier it’s increased by 54.4%.
  • Quarterly retail turnover, that which removes price movements, is tipped to grow 0.9% having increased 1.5% in Q4 2014. Given it makes up around 30% of total consumption, this figure will be watched closely given the implications for Q1 GDP.

The report will be released this morning at 11.30am Sydney time.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.