Retail sales track the housing bubble

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By Leith van Onselen

The Australian Bureau of Statistics (ABS) has released retail sales figures for the month of August, which registered a 0.4% seasonally-adjusted rise in sales over the month with annual sales clocking in at a solid (but slowing) 4.5%:

ScreenHunter_9566 Oct. 02 11.42

The below chart maps out seasonally-adjusted sales growth by segment on a monthly and annual basis:

ScreenHunter_9564 Oct. 02 11.41
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.