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Australian Data Continues to Disappoint

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Piling atop recent articles on Australia's shrinking housing sector, today's publication of Australian retail sales and its national trade balance show a broadening contraction striking several sectors of Australia's economy . The retail sales figure, perhaps most shocking, witnessed contraction in June.

Expectations for the retail sales report was for a modest growth of 0.4% from last month's contraction of 0.6%. The actual report of 0.1% shrinkage has led many investors to pull away from the Australian dollar (AUD) in recent trading. The nation's trade balance also revealed sluggish growth of only A$2.05B as opposed to the expected A$2.22B, down from last month's A$2.70B.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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