Australia Retail May 2021

Australia

Australia: Retail sales continue to expand in May

July 5, 2021

Nominal retail sales grew 0.4% month-on-month in seasonally-adjusted terms in May (April: +1.1% s.a. mom).

The headline reading reflected marked expansions in food retailing and cafes, restaurants and takeaway food services more than offsetting lower sales in household good retailing and department stores.

In annual terms, retail sales expanded 7.1% in the month (April: +23.8% yoy), still benefiting from a favorable base effect. Meanwhile, annual average growth in retail sales increased to 9.4% in May, from 9.2% in April.

FocusEconomics Consensus Forecast panelists are still assessing the latest developments.


Author: Massimo Bassetti, Senior Economist

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Australia Retail May 2021

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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