According to the figures from Australian Bureau of Statistics (ABS), retail sales in Australia grew by a seasonally adjusted 0.3% in the month of March. The growth in retail sales totally missed the expectations of the market analysts. The data of ABS also revealed that the retail sales in the first three months of the year grew by 0.1% comparing to the last three months of 2009, missing the economists' expectations.

The Australian Bureau of Statistics released today its monthly and quarterly figures of retail turnover. According to the ABS figures, Australian retail sales were reported of $19.9 billion in the month of March, increasing by 0.3% comparing to the same period last year. Retail sales fell by 1.2% in the previous month of February.

The growth in the month of March totally missed the expectations of the economists as they were expecting a growth of 0.8% in March. The data also revealed that the Australian retail sales grew by 0.1% in the first quarter ended March, 2010 comparing to the last quarter of 2009. The quarterly figures of retail sales also missed the forecasts of the economists as they were anticipating a growth of 0.3% in the period.