Retail sales growth plummets as income wanes

Advertisement

By Leith van Onselen

The Australian Bureau of Statistics (ABS) has released retail sales figures for the month of March, which registered a 0.1% fall in seasonally-adjusted sales over the month with annual sales clocking in at just 2.1% growth – the weakest annual growth since June 2013:

In trend terms, annual retail sales growth has fallen to 2.5%.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
Cancel at any time through our billing provider, Stripe
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.