Australia Retail August 2018

Australia

Australia: Retail sales growth accelerates in August

October 5, 2018

Nominal retail sales growth in August came in at 0.3% over the previous month in seasonally-adjusted terms, following July’s flat reading. This was above market expectations of a 0.2% rise. Unremarkable wage growth, falling house prices and high household debts continue to weigh on consumer spending.

Higher sales in cafes, restaurants and takeaway food services; growth in clothing, footwear and personal accessory retailing; and higher sales in department stores led the expansion.

In annual terms, retail sales jumped a five-month high of 4.2% in August, down from July’s 2.6% increase. Consequently, growth in annual average retail sales in August inched up to 2.6% from July’s 2.5%.

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 expand 2.5%, also unchanged from last month’s projection.


Author: Massimo Bassetti, Senior Economist

Sample Report

Looking for forecasts related to Retail in Australia? Download a sample report now.

Download

Australia Retail Chart


Australia Retail August 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.


Australia Economic News

  • Australia: Business confidence jumps in January

    February 21, 2021

    The business confidence index produced by National Australia Bank (NAB) jumped to 10.0 points in January from 4.7 points in December.

    Read more

  • Australia: Consumer sentiment improves in February

    February 21, 2021

    The Westpac-Melbourne Institute consumer sentiment index rose to 109.1 in February from 107.0 in January.

    Read more

  • Australia: Retail sales rebound in January

    February 19, 2021

    Nominal retail sales in January increased 0.6% over the previous month in seasonally-adjusted terms, swinging from December’s 4.1% slump, according to preliminary figures. A healthy increases in food retailing led the rises, while declines were recorded in clothing, footwear and personal accessory retailing, household goods retailing, and department stores—which were negatively affected by a three day lockdown in Brisbane.

    Read more

  • Australia: Unemployment rate at 10-month low in January

    February 18, 2021

    Seasonally-adjusted employment increased by 29,100 in January, following 50,000 jobs gain in December.

    Read more

  • Australia: Retail sales slump in December

    February 5, 2021

    Nominal retail sales in December plunged 4.1% over the previous month in seasonally-adjusted terms, swinging from November’s 7.1% surge. Particularly pronounced decreases were recorded in household goods retailing, clothing, footwear and personal accessory retailing, department stores and other retailing, while cafes, restaurants and takeaway food services saw a healthy increase. In annual terms, retail sales grew 10.3% in December, following November’s 12.1% surge.

    Read more

More news

Search form