Australia Retail September 2016

Australia

Australia: Growth in retail sales accelerates in September

November 4, 2016

Nominal retail sales growth accelerated in September, coming in at 0.6% over the previous month in seasonally-adjusted terms, up from August’s 0.5% reading. The figure overshot market expectations of a 0.4% increase and marked the highest reading since June 2015. Household goods retailing led the way as the fastest growing component of the index this month. Growth in sale volumes for cafes and restaurants and takeaway food services, as well as for department store sales also contributed to the overall increase in retail sales. However, a drop in clothing and footwear retailing dragged on growth.

On a year-on-year basis, the pace of growth in retail sales accelerated from 3.0% in August to 4.2% in September. Thanks to September’s upswing, annual average growth in retail sales halted its downward spiral, edging up from 3.8% in August to 3.9% in September.

FocusEconomics Consensus Forecast panelists see private consumption growing 2.8% in 2016, which is unchanged from last month’s forecast. For 2017, the panel sees private consumption expanding 2.6%, which is also unchanged from last month’s estimate.


Author:, Economist

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Australia Retail September 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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