Retail spending rockets ahead of income

Wednesday 4 November 2015

Yesterday’s tepid retail sales are likely to make a negative contribution to Australia’s September quarter GDP when the national accounts are released early next month.

As reported yesterday, monthly sales values registered 0.4% growth in September in trend terms and just 3.7% growth over the year: the slowest rate of growth since September 2013:

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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.