Retail sales to soften as house prices fall

Monday, 3 September 2018

The Australian Bureau of Statistics (ABS) has released retail sales figures for the month of July, which registered zero seasonally-adjusted growth over the month with annual sales growth firming to 2.9%:

In trend terms, annual retail sales growth also firmed to 3.2%. The below chart maps out seasonally-adjusted sales growth by segment on a monthly and annual basis:

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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.