Australia Retail


Expansion in retail sales moderates further in March

Nominal retail sales rose 0.1% over the previous month in seasonally-adjusted terms in March, which came in below the 0.3% increase recorded in February. The print marked the slowest monthly expansion since April 2013 and fell short of market expectations of a 0.4% rise.

On a year-on-year basis, the pace of growth in retail sales eased from the revised 5.0% increase tallied in February (previously reported: +4.9% year-on-year) to a 4.4% increase in March. Despite the deceleration, annual average growth in retail sales inched up from 3.7% in February to 3.8% in March, which marked the highest average since May 2010.

FocusEconomics Consensus Forecast panelists see private consumption growing 2.6% in 2014, which is unchanged from last month's forecast. For 2015, the panel sees private consumption expanding 2.9%.


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Australia Retail Chart

Australia Retail March 2014

Note: Month-on-month seasonally adjusted and annual variation of retail sales index in %.
Source: Australia Bureau of Statistics and FocusEconomics calculations.

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