Australia Retail

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Australia: Expansion in retail slows down in April

July 3, 2014

Nominal retail sales fell 0.5% over the previous month in seasonally-adjusted terms in May, which was below the 0.1% decrease recorded in April. The result came in below market expectations of retail sales showing flat growth.

On a year-on-year basis, the pace of growth in retail sales decelerated from the 6.5% increase tallied in April to a 4.9% increase in May. Despite the annual deceleration, annual average growth in retail sales edged up from 4.1% in April to 4.3% in May, which marked the highest average since April 2010.

FocusEconomics Consensus Forecast panelists see private consumption growing 2.7% 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 May 2014

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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