Australia Retail October 2016

Australia

Australia: Growth in retail sales slows slightly in October

December 2, 2016

Nominal retail sales growth slowed slightly in October, registering a 0.5% month-on-month rise in seasonally adjusted terms, below September’s 0.6% increase but overshooting analysts’ expectations of 0.3% growth. Growth was driven by greater sales in the food, household goods and cafes, restaurants and takeaway services subgroups, while retail sales in the clothing, footwear and personal accessory subgroup fell.

On a year-on-year basis, retail sales growth fell from a revised 4.4% in September (previously reported: +4.2% yoy) to 2.1% in October, marking the lowest reading in over three years. Annual average growth in retail sales edged down from 4.1% in September to 3.9% in October.

FocusEconomics Consensus Forecast panelists see private consumption growing 2.6% in 2017, which is unchanged from last month’s forecast. For 2018, the panel sees private consumption expanding 2.6%.


Author:, Economist

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Australia Retail October 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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