Weak retail sales to drag down Q3 GDP

Sunday 5 November 2017

Friday’s retail sales figures should detract from Australia’s September quarter GDP when the national accounts are released early next month.

As noted on Friday, monthly sales values registered no change in seasonally adjusted terms and just 1.4% growth over the year – equivalent to GFC lows – with the trend also very weak:

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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.