Australia: Retail sales return to growth in January
March 6, 2017
Nominal retail sales growth in January was 0.4% month-on-month in seasonally adjusted terms, contrasting the 0.1% contraction in December. Growth was driven by higher sales in food retailing and in the clothing, footwear and personal accessory subgroup, offsetting gains in food retailing and clothing, footwear and personal accessory retailing.
On a year-on-year basis, retail sales growth fell from 3.7% in December to 2.2% in January. Annual average growth in retail also fell from 3.7% in December to 3.6% in January.
Author: Christopher Mc Innes, Economist