Australia Retail July 2020

Australia

Australia: Retail sales keep expanding in July

September 15, 2020

Nominal retail sales in July rose 3.2% over the previous month in seasonally-adjusted terms, following June’s somewhat softer 2.7% increase.

July’s rise was broad-based. Particularly pronounced increases were recorded in clothing, footwear and personal accessory retailing; cafes, restaurants and takeaway food services; household goods retailing; department stores.

In annual terms, retail sales jumped 12.8% in July, following June’s 8.6% expansion and marking the strongest increase since mid-2001. Meanwhile, annual average growth in retail sales rose from 3.2% in June to 4.0% in July.

FocusEconomics Consensus Forecast panelists are still assessing the latest developments.


Author: Massimo Bassetti, Senior Economist

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Australia Retail July 20 20

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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