Australia Retail


Retail sales reach 18-month high in December

Nominal retail sales rose 0.5% over the previous month in seasonally-adjusted terms in December. The result, which came in slightly below the 0.7% rise recorded in November, was in line with market expectations.

On a year-on-year basis, the pace of expansion in retail sales rose from a 4.6% expansion in November to a 5.1% increase in December, marking the strongest jump since June 2012. Consequently, annual average growth in retail sales increased from 2.5% in November to 3.0% in December.

FocusEconomics Consensus Forecast panelists see private consumption growing 2.6% in 2014, which is down 0.1 percentage points from last month's forecast. For 2015, the panel sees private consumption expanding 2.9%.


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Australia Retail Chart

Australia Retail December 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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