The ABS has released retail sales data for June, which fell 1.8% over the month to be 2.9% higher year-on-year:
The decline in retail sales in June was fairly broad-based with only South Australia and the ACT recording growth:
All sub categories other than food retailing also registered falls:
However, quarterly retail volumes rose 0.8% over the June quarter to be 9.2% higher than they were a year ago:
This is obviously positive for Q2 GDP growth. However, recent lockdowns will weigh heavily on Q3’s outcome.