Retail sales to add nuthin’ to Q4 GDP

Wednesday, 6 February 2019

Yesterday’s retail sales figures should add next to nothing to Australia’s December quarter GDP when the national accounts are released early next month.

As noted earlier, monthly sales values fell by 0.4% in the month of December to be up just 2.8% over the year:

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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.