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Tomorrow, we will be getting retail sales data from Australia and the EU.
The figures will likely point to an increase in consumer spending. This is as a result of the general public stocking up on food and other basic necessities in preparation for the possible prolonging of the lockdown period.
Aussie retail sales consist of monthly and quarterly estimates of turnover and volumes, for retail businesses. This includes both store and online sales.
EU retail sales will have a relatively muted impact. This is because Germany and France, which account for about half of the eurozone’s economy, released their consumer data earlier.
Australia: Surge in Consumer Spending
Australia had its preliminary release of the retail sales data on the 18th of March, 2020.
The Australian Bureau of Statistics (ABS) reported in the first-ever preliminary report that revenues rose by 0.4%, in February 2020.
The seasonally adjusted estimate, on the other hand, also rose by 0.4% in February 2020. This in...
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