Advertisement
The Australian Bureau of Statistics (ABS) has released retail sales data for June, which captures the first two (0.75% worth of) rate hikes from the RBA.
Retail sales rose only 0.2% over the month, missing analyst’s expectations of a 0.5%. But over the year, retail sales grew by 12.0%:
Losing momentum.
The full text of this article is available to MacroBusiness subscribers
Cancel at any time through our billing provider, Stripe
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.
Advertisement