Australia Retail February 2017

Australia

Australia: Retail sales contract in February

April 3, 2017

Nominal retail sales in February contracted 0.1% month-on-month in seasonally adjusted terms, contrasting the 0.4% expansion in January. The drop was driven by lower household goods and department store sales, which offset gains in food retailing sales.

On a year-on-year basis, retail sales contracted 0.5% in February, contrasting the 2.2% expansion registered in January. Annual average growth in retail sales fell from 3.6% in January to 3.1% in February.

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 February 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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