Australia Retail April 2021

Australia

Australia: Retail sales record best result on record in April

June 3, 2021

Nominal retail sales grew 1.1% month-on-month in seasonally-adjusted terms in April (March: +1.3% s.a. mom). The print likely reflected the fading impact of the removal of restrictive measures in certain parts of the country; retail sales in Western Australia dropped over the prior month.

The headline reading reflected a marked contraction in the department stores sectors, offsetting robust growth in the cafes, restaurants and takeaway food services sector, and a rebound in food retailing.

In annual terms, retail sales jumped 23.8% in the month (March: +4.0% yoy) and logged a record-high on the back of a favorable base effect: The country was in lockdown in the same month a year prior, which weighed heavily on consumers’ ability to spend. Meanwhile, annual average growth in retail sales increased to 9.2% in April, from 6.8% in March.

FocusEconomics Consensus Forecast panelists are still assessing the latest developments.


Author:, Economist

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Australia Retail April 2021 1

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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