Australia's Retail Sales Edge Up in April; ASX 200 Gains Amid Mixed Economic Signals
May 29, 2024![Australia's Retail Sales Edge Up in April; ASX 200 Gains Amid Mixed Economic Signals](https://cdn.brief.news/images/stories/869b52b9f331e6d3374a5798116e31a114f451d0ee84acb101a153e9f89c4be55650dbf2cf70d4a96b2aeebc7df2a7c11d0cb580666dc8349ae162ce6857250a.jpg)
Australia's retail sales in April 2024 increased by 0.1%, slightly below market expectations of 0.2%.
This follows a 0.4% decline in March 2024.
The rise in retail sales was attributed to the earlier Easter holiday and varying school schedules across the country.
Tasmania, Western Australia, and the Northern Territory experienced stagnant trade.
Year-on-year retail sales growth stood at 1.3%, up from 0.9% in March.
The S&P/ASX 200 Index saw a 0.15% increase, reaching around 7,800 on Tuesday.
Australia's manufacturing PMI held steady in May, while the services PMI continued its four-month expansion.
The Reserve Bank of Australia's May meeting minutes hinted at a potential future interest rate hike, despite the cash rate remaining at 4.35% for the fourth time.
Quarterly inflation in Q1 slowed less than expected, with monthly CPI exceeding forecasts.
Monthly CPI inflation reached 3.4% in the year to February 2024.
Summary based on 4 sources
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![Australia's retail sales rise less than expected in April amid cautious spending](https://cdn.brief.news/images/links/49e59c3ef28e9af8a0c8d0d073736921d02ffde95c0778f51f93c2474d97da0eb55917fc3f62c3a091e09ea73471cef4e0ca2ab400bbfb59108169ef94fa669c.png)
Seeking Alpha • May 28, 2024
Australia's retail sales rise less than expected in April amid cautious spending![Australia retail sales grow less than expected in April](https://cdn.brief.news/images/links/869b52b9f331e6d3374a5798116e31a114f451d0ee84acb101a153e9f89c4be55650dbf2cf70d4a96b2aeebc7df2a7c11d0cb580666dc8349ae162ce6857250a.jpg)
Investing.com • May 28, 2024
Australia retail sales grow less than expected in April![Australia retail sales grow at a snail's pace in April](https://cdn.brief.news/images/links/733862db7a7b20da4641b3382d623c14ba182819dbf77b84aa81570e8d86f31b74af3bfaaa2b370506d88adb644dbd96305e7f4b93a21fa1072e6a8480d2ccef.jpg)
Investing.com • May 28, 2024
Australia retail sales grow at a snail's pace in April![Retail sales up 0.1pct as financial pressures bite](https://cdn.brief.news/images/links/b1b175a75e0c961cf4798d4ff02313be1f2944916e3ef365cfc00a5472709c95c0cc58f0f0d5c941acd5d296cc8b7597a1d434d9ef0459ae634238dc0f7d7fd1.jpg)
The West Australian • May 28, 2024
Retail sales up 0.1pct as financial pressures bite