Sydney Australia skyline

Australia Retail December 2018

Australia: Weak Christmas shopping prompts the sharpest contraction in retail sales in a year

Nominal retail sales in December contracted 0.4% over the previous month in seasonally-adjusted terms, following November’s revised 0.5% expansion (previously reported: +0.4% month-on-month). This was well below market expectations of a softer 0.1% drop. As November’s retail sales were boosted by Black Friday and Cyber Monday sales, sales in December came in particularly weak. Moreover, subdued wage growth, dropping house prices and a hefty stock of household debt continue to weigh on consumers’ spending.

Shrinking sales in household goods, as well as in clothing and footwear led the contraction, partially offset by higher sales in food retailing and cafes, restaurants and takeaway food services.

In annual terms, retail sales expanded 2.2% in December, down from November’s 3.3% increase. Meanwhile, annual average growth in retail sales in December inched up to 3.0% from November’s 2.9%.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest