August retail sales flat

Thursday 4 October 2012

August retail sales out and the result is pretty lousy at 0.2% growth, half consensus:

Here are the internals:

A bounce back for department stores, though over the past several months life sucks, more sadness for Gerry Harvey and food gallops on. Nothing but cautious consumer here.

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.