Australia: Retail sales expected to increase 0.2% in April - ANZ

Analysts at ANZ are expecting a small rise in Australian retail sales of 0.2% m/m in April (after two consecutive declines) but the trend remains weak and they think households have likely kept the purse strings tight.

Key Quotes

“Consumers appear cautious about household finances, with consumer confidence trending lower amid weak wage growth, rising energy bills, high levels of household debt and rising expectations that house price growth will moderate. Another negative outcome would be worrying – the last time sales fell for three consecutive months was in late 1999/early 2000.”