Retail volumes remain very weak

Friday 3 November 2023

From the ABS comes Sep QTR retail volumes.

September Qtr 2023 ($m)	June Qtr 2023 to September Qtr 2023 (% change)	September Qtr 2022 to September Qtr 2023 (% change)
Trend	98,081.6	-0.3	-1.8
Seasonally adjusted	98,310.2	0.2	-1.7

That’s the first positive contribution to growth in a year, even if marginal.

Given population growth of 2.2%, retail volumes remain very weak.

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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.