“Flatlining”; April retail sales up just 0.1%

Summary: Retail sales up 0.1% in April, slightly less than expected; up 1.3% on 12-month basis; ANZ: sales little changed over past 3 months; ACGB yields decline; rate-cut expectations soften; Westpac: sales flatlining in nominal terms, implies continued declines in inflation-adjusted sales; largest influence on result from “other” category, food sales. Growth figures of domestic retail sales spent most of the 2010s at levels below the post-1992 average. While economic...

read full story