Australia Retail March 2016

Australia

Australia: Monthly retail sales pick up in March

May 5, 2016

Nominal retail sales climbed 0.4% in March over the previous month in seasonally-adjusted terms, up from the 0.1% increase recorded in February. The figure marginally overshot market expectations of a 0.3% rise. Retail volumes for clothing, footwear and personal accessories as well as for food grew the most, while department stores and takeaway food restaurants showed the weakest readings.

On a year-on-year basis, the pace of growth in retail sales fell sharply from 6.8% in February to 3.7% in March. As a result, annual average growth in retail sales in Marched inched down from 4.4% in February 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 sees private consumption expanding 2.7%.


Author:, Economist

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Australia Retail March 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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