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Australia: Retail sales slow in August

October 1, 2014

Nominal retail sales rose 0.1% in August over the previous month in seasonally-adjusted terms, which was below the 0.4% increase recorded in July. The result undershot market expectations of a 0.4% rise.

On a year-on-year basis, the pace of growth in retail sales decelerated from the 6.5% increase tallied in July to a 3.8% rise in August. In contrast, annual average growth in retail sales remained stable at July’s 5.0% growth rate, which had marked the highest average since March 2010.

FocusEconomics Consensus Forecast panelists see private consumption growing 2.5% in 2014, which is unchanged from last month’s forecast. For 2015, the panel sees private consumption expanding 2.7%.


Author: Angela Bouzanis, Senior Economist

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Australia Retail August 2014

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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