Australia Retail October 2018


Australia: Retail sales growth accelerates in October

December 10, 2018

Nominal retail sales growth in October came in at 0.3% over the previous month in seasonally-adjusted terms, following September’s revised 0.1% expansion (previously reported: +0.2% month-on-month). This was slightly above market expectations of a 0.2% rise. Subdued wage growth, falling house prices and a burdensome stock of household debt continued to limit the scope of consumer spending growth.

Higher sales in clothing, footwear and personal accessory retailing, household goods retailing, and food retailing led the expansion, partially offset by lower sales in cafes, restaurants and takeaway food services.

In annual terms, retail sales expanded 3.8% in October, up from September’s 2.8% increase. Meanwhile, annual average growth in retail sales in October rose to 2.9% from September’s 2.7%.

Australia Private Consumption Forecast

FocusEconomics Consensus Forecast panelists see private consumption growing 2.5% in 2019, which is unchanged from last month’s forecast. For 2020, the panel expects private consumption to expand 2.7%.

Author: Massimo Bassetti, Senior Economist

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Australia Retail Chart

Australia Retail October 2018 0

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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