Retail sales return to weakness following iPhone X spike

Tuesday 6 February 2018

The Australian Bureau of Statistics (ABS) has released retail sales figures for the month of December, which registered a 0.5% seasonally-adjusted decline in sales over the month, with annual sales growth retracing to 2.5%:

In trend terms, annual retail sales growth rebounded to 2.0% – just above November’s record low of 1.9% (i.e. since April 1983).

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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.