Australia: Mixed economic releases – TDS

Analysts at TDS note that Australia’s building approvals for Feb corrected as expected, at -6.2%/m, split between private-sector home approvals (+1.9%/m) and apartments (-16.4%/m).

Key Quotes

“Retail sales for Feb jumped by +0.6%/m and sales were up across the board, led by household goods (1.1%), food (0.3%), cafe's restaurants and takeaways (0.7%) and clothing, footwear (1.1%). Dept stores rose (1.5%) after three consecutive falls.”