Australia Retail


Australia: Retail sales slow in October but exceed expectations

December 4, 2014

Nominal retail sales rose 0.4% in October over the previous month in seasonally-adjusted terms, which was below the 1.3% increase recorded in September. The result overshot market expectations of a 0.1% rise in retail sales.

On a year-on-year basis, the pace of growth in retail sales decelerated from the 6.8% increase tallied in September to a 6.3% rise in October. However, annual average growth in retail sales improved from September’s 5.4% growth rate to a 5.5% expansion, which marked the highest average since February 2010.

FocusEconomics Consensus Forecast panelists see private consumption growing 2.4% in 2014, which is unchanged from last month’s forecast. For 2015, the panel sees private consumption expanding 2.5%, which is also unchanged from the previous month’s forecast.

Author: Angela Bouzanis, Senior Economist

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Australia Retail Chart

Australia Retail October 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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