Australia Retail

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Australia: Retail sales slow in July

September 4, 2014

Nominal retail sales rose 0.4% in July over the previous month in seasonally-adjusted terms, which was below the 0.7% increase recorded in June. The result was in line with market expectations.

On a year-on-year basis, the pace of growth in retail sales accelerated from the 5.0% increase tallied in June to a 6.5% rise in July. Following the annual acceleration, annual average growth in retail sales edged up from 4.6% in June to 5.0% in July, which marked the highest average since March 2010.

FocusEconomics Consensus Forecast panelists see private consumption growing 2.6% in 2014, which is unchanged from last month’s forecast. For 2015, the panel sees private consumption expanding 2.8%.


Author: Angela Bouzanis, Senior Economist

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Australia Retail July 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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