Australia Retail August 2021

Australia

Australia: Retail sales drop at softer pace in August

October 5, 2021

Retail sales fell 1.7% in month-on-month seasonally-adjusted terms in August, which followed July's 2.7% decrease, which had marked the worst reading since December 2020.

The headline reading reflected contractions in housing goods retailing; clothing, footwear and personal accessory retailing; department stores; and, cafes, restaurants and takeaway food services. This more than offset growth in food retailing.

In annual terms, retail sales fell 0.8% in August, following the 2.9% contracting logged in July. Meanwhile, annual average growth in retail sales eased to 7.0% in August from 7.5% in July.

FocusEconomics Consensus Forecast panelists are still assessing the latest developments.


Author: Massimo Bassetti, Senior Economist

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Australia Retail August 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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