ONLY CHARTS #319

Aus retail trade, Aus PPI, NZ resi building permits, Shipping costs

ONLY CHARTS is only available to paid subscribers.

A 7-day free trial is available below. Group discounts are available here.

Antipodean Macro’s in-depth research is available here.

1. Nominal retail trade in Australia rose +0.3% m/m and +4.3% y/y in March.

Excluding spending on food and eating out, sales rose just +0.2% m/m following consecutive declines.

Retail sales fell 0.4% m/m in Queensland as non-food sales (-1.8% m/m) were adversely affected by bad weather. Excluding Queensland, retail sales rose +0.5% m/m in March in the rest of Australia.

2. In nominal terms, food sales have risen most strongly in recent months but that largely reflects higher prices (see below) and stocking up in Queensland in March.