Australia Retail June 2018

Australia

Australia: Retail sales expand at a steady pace in June

August 3, 2018

Nominal retail sales growth in June came in at 0.4% over the previous month in seasonally-adjusted terms, matching May’s reading and coming in above market expectations of a more moderate 0.3% rise. Three consecutive months of relatively healthy growth in retail sales bodes well for consumer spending, which made only a small contribution to growth in the first quarter.

Higher sales of food and household goods; higher sales in cafes, restaurants and takeaway food services; and another notable increase in sales in clothing, footwear and personal accessories retailing more than offset lower sales in department stores.

In annual terms, retail sales expanded 2.6% in June, below May’s 3.3% increase. Consequently, growth in annual average retail sales inched down to 2.5% in June from 2.6% in May.

Australia Private Consumption Forecast


FocusEconomics Consensus Forecast panelists see private consumption growing 2.6% in 2018, which is unchanged from last month’s forecast. For 2019, the panel expects private consumption to grow 2.5%.


Author: Massimo Bassetti, Economist

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Australia Retail June 2018

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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