The Australian Bureau of Statistics (ABS) has released preliminary retail sales for the month of January, which rose by 0.6% over the month to be up 10.7% year-on-year:
The next chart shows the monthly swings alongside the annual growth rate:
According to the ABS:
- Following a fall of 4.1% in December 2020, there was a 0.6% rise in January 2021.
- All states and territories rose, except for Queensland. NSW led the rises, up 1.0%, as Greater Sydney saw COVID-19 restrictions eased in January.
- Queensland saw a fall of 1.5%, with COVID-19 restrictions in Brisbane leading to falls, especially across Household goods retailing, Clothing, footwear and personal accessory retailing, and Department stores.
- There were mixed results across the industries. Food retailing led the rises, up 1.8% following a 1.7% fall in December 2020. Victoria and NSW led the rises in Supermarkets, after restrictions impacted Christmas celebrations in December 2020.
- The rises were partially offset by falls in Clothing, footwear and personal accessory retailing, Household goods retailing, and Department stores, which were industries impacted by a three day lockdown in Brisbane.
The Australian economy continues to recover.