Australia Retail June 2016


Growth in retail sales inches down in June

Nominal retail sales climbed 0.1% in June over the previous month in seasonally-adjusted terms, down from the 0.2% increase recorded in May. The figure vastly undershot market expectations of a 0.4% increase. Retail volumes for clothing, footwear and personal accessories as well departments saw the largest increases, while sales of food tallied the largest drop.

On a year-on-year basis, the pace of growth in retail sales rose from 2.4% in May to 3.5% in June. Despite the solid increase, annual average growth in retail sales in June edged down from 4.3% in May to 4.1%.

FocusEconomics Consensus Forecast panelists see private consumption growing 2.7% in 2016, which is unchanged from last month’s forecast. For 2017, the panel also sees private consumption also expanding 2.7%.

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Australia Retail Chart

Australia Retail June 2016

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

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