Australian retail sales figures for April will be released later on this morning.
Here’s the state of play.
- Market expect total retail sales to increase 0.4%.
- In March sales grew by 0.3%, leaving the annual rate slightly at 4.5%.
- While the annual growth rate is slower than that seen throughout much of 2014, in dollar terms, turnover rose to $24.12 billion in March, a record high.
- Sales have increased for 10 consecutive months. Another increase in April will mark the longest stretch of gains since March 2007 (17).
- In the year to March, household goods retailing recorded the fastest percentage growth of any category at 8.0%. “Other” retailing, while higher, recorded the slowest growth at 2.2%.
- From a state and territory perspective, South Australia recorded the fastest annual pace of sales in March, 6.2%, while the Northern Territory was the only region to record a decline at -0.3%.
- In March, New South Wales made up the largest proportion of total sales at 31.73%, the Northern Territory the lowest at 1.06%.
Business Insider will have full coverage of the report once it hits the screens at 11.30am AEST.