Australia's Feb retail sales misses expectations

Australia's Feb retail sales came worse-than-expeced at -0.1% vs 0.3% exp and 0.4% last. The Aussie has fallen some 15-20 odd pips on the news, last exchanging hands at 0.7620 daily lows. 

Key points

• The trend estimate rose 0.1% in February 2017. This follows a rise of 0.2% in January 2017 and a rise of 0.2% in December 2016.
• The seasonally adjusted estimate fell 0.1% in February. This follows a rise of 0.4% in January 2017 and a fall of 0.1% in December 2016.
• In trend terms, Australian turnover rose 2.9% in February 2017 compared with February 2016.
• The following industries rose in trend terms in February 2017: Food retailing (0.3%), Cafes, restaurants and takeaway food services (0.1%), and Other retailing (0.1%). Clothing, footwear and personal accessory retailing was relatively unchanged (0.0%). Household goods retailing (-0.1%), and Department Stores (-0.1%) fell in trend terms in February 2017.
• The following states and territories rose in trend terms in February 2017: New South Wales (0.1%), Victoria (0.2%), South Australia (0.3%), Western Australia (0.1%), Tasmania (0.1%), the Northern Territory (0.3%), and the Australian Capital Territory (0.1%). Queensland (-0.1%) fell in trend terms in February 2017.