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Australia: Retail sales inch up in May

July 3, 2015

Nominal retail sales recorded an increase of 0.3% in May over the previous month in seasonally-adjusted terms, which contrasted the 0.1% decrease recorded in April. Despite the rebound, the result was still below the 0.5% increase that the markets had expected.

On a year-on-year basis, the pace of growth in retail sales inched up from a 3.6% expansion in April to a 3.8% increase in May. Annual average growth in retail sales ticked down from April’s 4.9% to 4.8% in May, marking the lowest reading in 11 months.

FocusEconomics Consensus Forecast panelists see private consumption growing 2.7% in 2015, which is unchanged from last month’s forecast. For 2016, the panel sees private consumption expanding 2.7%.


Author:, Economist

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Australia Retail May 2015

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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