Australia Retail


Retail sales inch up in July

Nominal retail sales in July rose 0.1% over the previous month. While the result came in above the flat reading recorded in June, it undershot market expectations of a 0.4% increase.

On a year-on-year basis, the pace of expansion in retail sales accelerated from a 0.3% increase in June to a 2.3% rise in July. Meanwhile, annual average growth in retail sales was unchanged at June's 2.5%.

FocusEconomics Consensus Forecast panelists see private consumption growing 2.4% in 2013, which is unchanged from last month's forecast. For next year, the panel sees private consumption expanding 3.1%.

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Australia Retail Chart

Australia Retail July 2013

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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