|Month over Month||0.3%||0.4%||-0.1%|
August retail sales increased a monthly 0.4 percent after slipping 0.1 percent in July. On the year sales were 4.5 percent higher. In seasonally adjusted terms the largest contributor to the increase was food retailing (0.6 percent). Other retailing (1.3 percent), department stores (1.3 percent) and household goods retailing (0.2 percent) also gained. Clothing, footwear & personal accessory retailing was down 1.4 percent and cafes, restaurants & takeaway food services were down 0.3 percent.
Sales were up in Victoria (0.9 percent), New South Wales (0.5 per cent), Western Australia (0.2 percent), South Australia (0.3 per cent) and Tasmania (0.4 percent). There were declines in Queensland (down 0.2 percent), the Northern Territory (down 0.9 percent) and the Australian Capital Territory (down 0.4 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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