Retail sales growth fading away

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By Leith van Onselen

The Australian Bureau of Statistics (ABS) has released retail sales figures for the month of July, which registered no change in seasonally-adjusted sales over the month with annual sales clocking in at just 2.7% growth, with a worsening trend:

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In trend terms, annual retail sales also clocked in at 2.7% and is falling.

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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.