Retail sales to add bugger all to Q1 GDP

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By Leith van Onselen

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

As noted earlier, monthly sales values registered no change in seasonally adjusted terms but 3.1% growth over the year, with trend growth rising:

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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.