Australia Retail January 2016

Australia

Australia: Yearly retail sales growth falls in January

March 4, 2016

Nominal retail sales climbed 0.3% in January over the previous month in seasonally-adjusted terms, up from the flat growth record in December. The figure surprised analysts on the downside, as they had expected a 0.4% increase. Retail volumes for household goods, food, and clothing observed the strongest increases, while department stores and restaurants showed the weakest readings.

On a year-on-year basis, the pace of growth in retail sales decelerated from a 4.7% increase in December to a 3.1% expansion in January, which marked the smallest expansion since September 2013. As a result, annual average growth in retail sales in January inched down from a 4.3% increase in December to a 4.2% rise.

FocusEconomics Consensus Forecast panelists see private consumption growing 2.6% in 2016, which is up 0.1 percentage points from last month’s forecast. For 2017, the panel sees private consumption expanding 2.7%.


Author:, Economist

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Australia Retail January 2016 1

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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