Australia: Retail sales growth cools down in April
June 2, 2016
Nominal retail sales climbed 0.2% in April over the previous month in seasonally-adjusted terms, down from the 0.4% increase recorded in March. The figure marginally undershot market expectations of a 0.3% rise. Retail volumes for clothing, footwear and personal accessories as well as for household goods and other goods grew the most, while department stores and food retailing showed the weakest readings.
On a year-on-year basis, the pace of growth in retail sales rose from 3.7% in March to 4.9% in April. As a result, annual average growth in retail sales in April inched up from 4.3% in March to 4.4%.
Author: Christopher Mc Innes, Economist