Aussie Retail Sales: +3.2% MoM vs +3.3 % expected

The final estimate of July Retail Sales, with the 3.3% preliminary reading that had been expected to be confirmed, up from 2.7% in June has arrived as follows:

•  +3.2 pct MoM s/adj vs Reuters poll +3.3 pct.

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The description of the Retail Sales

The Retail Sales released by the Australian Bureau of Statistics is a survey of goods sold by retailers is based on a sampling of retail stores of different types and sizes and it''s considered as an indicator of the pace of the Australian economy. It shows the performance of the retail sector over the short and mid-term. Positive economic growth anticipates bullish trends for the AUD, while a low reading is seen as negative or bearish.