Australian retail pulls another donut

Thursday 5 December 2019

The September quarter retail sales data from the Australian Bureau of Statistics (ABS) revealed the first annual decline in retail sales volumes since the early-1990s recession:

Now, the ABS has released retail sales figures for the month of October, which recorded zero growth in the value of retail sales over the month in seasonally-adjusted terms, with annual sales growth slumping to just 2.1%:

In trend terms, annual retail sales growth slowed to 2.3%.

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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.