Aussie retail sales still rising despite rate hikes

Wednesday, 29 June 2022

The Australian Bureau of Statistics (ABS) today released retail sales data for May, with sales rising for their fifth consecutive month by 0.9% to be up 10.4% year-on-year:

Retail sales were positive across all categories except clothing & footwear:

Sales were also positive everywhere except QLD and ACT:

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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.