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ABS August retail was soft.
| Aug-2023 ($m) | Jul-2023 to Aug-2023 (% change) | Aug-2022 to Aug-2023 (% change) | |
|---|---|---|---|
| Trend | 35,404.4 | 0.1 | 1.3 |
| Seasonally adjusted | 35,432.7 | 0.2 | 1.5 |
It’s going nowhere in nominal terms:
Add inflation and immigration, and volumes are galloping backward at 5%+ annually.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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