Sydney Australia skyline

Australia Retail

Australia Retail

Retail Sales in Australia

Australia's economy recorded an average growth rate of 4.8% in retail sales in the decade to 2022, below the 8.2% average for the Asia-Pacific region. In 2022, retail sales growth was 11.3%.

Australia Retail Chart

Note: This chart displays Retail Sales (ann. var. %) for Australia from 2020 to 2019.
Source: Macrobond.

Australia Retail Data

2019 2020 2021 2022 2023
Retail Sales (ann. var. %) 2.7 6.7 5.3 11.3 3.1

Retail sales growth speeds up in May

Retail sales grew 0.6% month-on-month in seasonally adjusted terms in May (April: +0.1% mom), easily exceeding market expectations and marking a four-month high. Looking at the details of the release, the acceleration primarily reflected rebounds in household goods sales and food retailing sales. That said, May saw contractions in department store sales plus café and restaurant sales.

Consensus Forecasts and Projections for the next ten years

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Australian retail projections for the next ten years from a panel of 1 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable retail forecast available for Australian retail.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Australian retail projections.

Want to get access to the full dataset of Australian retail forecasts? Send an email to info@focus-economics.com.

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