Hoarding drives record retail sales in March

Wednesday 6 May 2020

As expected, the ABS’ official retail sales data for March registered a massive 8.5% lift in March on the back of grocery hoarding:

Over the year, retail sales surged by 10.1%.

According to the ABS:

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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.