Stockpiling fails to rescue retail sales

Friday, 3 April 2020

Annual Australian retail sales growth plunged further in February, despite recording a decent monthly lift:

While retail sales rebounded by 0.5% in February, they collapsed to just 1.8% year-on-year.

Due to the impacts of COVID-19 on retail trade, the trend series has been suspended by the ABS. Therefore, the trend series has not been updated in the chart above.

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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.