Australia: Retail sales flat in July
September 7, 2017
Nominal retail sales in July were unchanged over the previous month in seasonally-adjusted terms, down from the 0.3% increase registered in June. The flat reading was due to a contraction in department store sales, offsetting higher sales in the household goods retailing, and the restaurant and take away food categories.
On a year-on-year basis, retail sales expanded 2.9% in July, down from a 4.2% yearly increase in June. Average annual growth in retail sales edged up from 2.9% in June to 3.0% in July.
Author: Christopher Mc Innes, Economist