|Month over Month||0.4%||0.3%||0.7%|
|Year over Year||1.0%||4.5%||4.3%|
March retail sales were up 0.3 percent after increasing 0.7 percent in February. The March increase was slightly below expectations of a 0.4 percent monthly increase. On the year, sales were up 4.5 percent. March quarter sales were up 0.7 percent when compared with the December 2014 quarter.
In seasonally adjusted terms the largest contributor to the increase was department stores (3.8 percent), clothing, footwear & personal accessory retailing (2.2 percent), food retailing (0.4 percent) and other retailing (0.1 percent). Household goods retailing declined 1.0 percent and cafes, restaurants & takeaway food services retreated 1.1 percent.
Sales increased in Queensland (0.7 percent), New South Wales (0.3 percent), Victoria (0.2 percent), South Australia (0.3 percent) and Tasmania (0.5 percent). Sales declined in Western Australia (down 0.3 percent), the Australian Capital Territory (down 0.5 percent) and the Northern Territory (down 0.8 percent).
Retail sales measure the total receipts at stores that sell durable and nondurable goods. The Retail Business Survey covers all employing retail trade businesses who predominantly sell to households.
With consumer spending a large part of the economy, market players continually monitor spending patterns. The pattern in consumer spending is often the foremost influence on stock and bond markets. For stocks, strong economic growth translates to healthy corporate profits and higher stock prices. For bonds, the focus is whether economic growth goes overboard and leads to inflation. Ideally, the economy walks that fine line between strong growth and excessive (inflationary) growth.
Retail sales not only give you a sense of the overall picture, but also the trends among different types of retailers. Especially strong apparel or electronics sales can indicate strength in those industries, for example. These trends from the retail sales data can help you spot specific investment opportunities, without having to wait for a company's quarterly or annual report.
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