Australia Retail March 2017

Australia

Australia: Retail sales continue on downward spiral in March

May 9, 2017

Nominal retail sales in March contracted 0.1% month-on-month in seasonally adjusted terms, a marginal improvement on the 0.2% contraction in February. The drop was driven by lower sales of household goods and clothing, footwear and personal accessory sales, which offset gains in food retailing sales.

On a year-on-year basis, however, retail sales expanded 2.4% in March, contrasting the 0.5% contraction registered in February. Annual average growth in retail sales fell from 3.1% in February to 2.9% in March.

FocusEconomics Consensus Forecast panelists see private consumption growing 2.5% in 2017, which is unchanged from last month’s forecast. For 2018, the panel sees private consumption expanding 2.8%.


Author:, Economist

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Australia Retail March 2017

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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