Retail sales lukewarm
An article in the AFR details the latest retail sales figures in Australia. Amid all the metrics mentioned, we were again disappointed with the way the data is represented. Retail sales statistics compared to the month before makes no sense and distort the real story. In retail, the only material measure is year-on-year corresponding period comparison. In this light, the only meaningful figure noted in the report was the sales data for May, which shows a lukewarm rise of 2.4% from the same period in 2017.