Retail Sales in Australia
Australia - Retail Sales
Retail sales record best result on record in April
Nominal retail sales grew 1.1% month-on-month in seasonally-adjusted terms in April (March: +1.3% s.a. mom). The print likely reflected the fading impact of the removal of restrictive measures in certain parts of the country; retail sales in Western Australia dropped over the prior month.
The headline reading reflected a marked contraction in the department stores sectors, offsetting robust growth in the cafes, restaurants and takeaway food services sector, and a rebound in food retailing.
In annual terms, retail sales jumped 23.8% in the month (March: +4.0% yoy) and logged a record-high on the back of a favorable base effect: The country was in lockdown in the same month a year prior, which weighed heavily on consumers’ ability to spend. Meanwhile, annual average growth in retail sales increased to 9.2% in April, from 6.8% in March.
FocusEconomics Consensus Forecast panelists are still assessing the latest developments.
Australia - Retail Sales Data
|Retail Sales (annual variation in %)||4.5||3.7||2.4||3.0||2.7|
5 years of economic forecasts for more than 30 economic indicators.
Australia Retail Sales Chart
Source: Australia Bureau of Statistics and FocusEconomics calculations.
|Bond Yield||1.37||1.47 %||Dec 31|
|Exchange Rate||0.70||0.05 %||Dec 31|
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June 9, 2021
GDP rose 1.8% in seasonally-adjusted quarter-on-quarter terms in Q1, benefiting from strong fiscal and monetary stimulus.
June 6, 2021
At its monetary policy meeting on 1 June, the Reserve Bank of Australia (RBA) decided to keep the cash rate unchanged at the all-time low of 0.10%.
June 3, 2021
Nominal retail sales grew 1.1% month-on-month in seasonally-adjusted terms in April (March: +1.3% s.a.
May 20, 2021
The Westpac-Melbourne Institute consumer sentiment index dropped to 113.1 in May from 118.8 in April, which had marked the strongest reading in over 10 years.
May 20, 2021
On 11 May, the government unveiled its 2021–2022 budget, amid an ongoing and stronger-than-expected economic recovery from the downturn caused by the pandemic.