Retail sales to subtract from Q2 GDP

Thursday 4 August 2016

Today’s retail sales figures are likely to make a slight negative contribution to Australia’s June quarter GDP when the national accounts are released early next month.

As noted yesterday, monthly sales values registered 0.1% growth in June in seasonally adjusted terms and 2.8% growth over the year, with a downward trend evident:

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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.