Australia Retail


Retail sales pick up in May but undershoot expectations

In May, nominal retail sales rose 0.1% over April. The figure contrasted the 0.1% drop recorded in the previous month but was below market expectations of a 0.3% increase.

On an annual basis, retail sales experienced a 2.7% increase, which was unchanged from the result recorded in April. As a result, the trend now points downwards, as annual average growth in retail sales fell from 3.1% in April to 2.9% in May.

FocusEconomics Consensus Forecast panellists 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 May 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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