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The Australian Bureau of Statistics (ABS) has released retail sales figures for the month of August, which registered a 0.6% seasonally-adjusted fall in retail sales over the month with quarterly retail sales also down by 0.6% and annual sales growth clocking in at just 2.1%:
In trend terms, annual retail sales growth fell to just 2.8% amid a weak trend.
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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.