Australia Retail May 2016

Australia

Australia: Growth in retail sales inches up May

July 5, 2016

Nominal retail sales climbed 0.2% in May over the previous month in seasonally-adjusted terms, up from the 0.1% increase recorded in April. The figure marginally undershot market expectations of a 0.3% increase. Retail volumes for miscellaneous goods and restaurant food saw the largest increase, while sales of household goods and department store retailing were virtually unchanged.

On a year-on-year basis, the pace of growth in retail sales fell from 4.9% in April to 2.4% in May. As a result, annual average growth in retail sales in May inched down from 4.4% in April to 4.3%.

FocusEconomics Consensus Forecast panelists see private consumption growing 2.7% in 2016, which is unchanged from last month’s forecast. For 2017, the panel also sees private consumption expanding 2.7%.


Author:, Economist

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Australia Retail May 2016 0

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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