The ABS has released its official retail sales data, which registered a 2.7% increase in June, which follows a rise of 16.9% in May:
According to the ABS:
- The following industries rose in seasonally adjusted terms in June 2020: Cafes, restaurants and takeaway food services (27.9%), Clothing, footwear and personal accessory retailing (20.5%), Food retailing (0.9%), and Other retailing (0.3%). Department stores (-12.1%), and Household goods retailing (-3.2%) fell in seasonally adjusted terms in June 2020.
- The following states and territories rose in seasonally adjusted terms in June 2020: New South Wales (3.7%), Victoria (4.1%), Western Australia (2.5%), South Australia (1.3%), Tasmania (4.0%), Queensland (0.4%), and the Australian Capital Territory (3.8%). The Northern Territory (-4.9%) fell in seasonally adjusted terms in June 2020.
Over the June quarter, retail sales declined by 3.4% in volume terms:
Thus, retail sales will pull down Australia’s June quarter GDP.
With Victoria now in full lockdown, July’s and August’s figures will obviously be soft.