Australia Retail July 2022

Australia

Australia: Retail sales growth accelerates in July

September 6, 2022

Retail sales expanded 1.3% in month-on-month seasonally-adjusted terms in July, up from June’s 0.2% increase.

Looking at the details of the release, food retailing, department store sales and clothing and footwear sales expanded, as did cafes, restaurants and takeaway food services sales. On the other hand, household goods retailing fell in July.

Retail sales increased 15.8% in annual terms in July, which was an improvement from June's 12.2% rise.

FocusEconomics Consensus Forecast panelists project private consumption will increase 5.2% in 2022, which is up 0.1 percentage points from last month’s forecast. In 2023, the panel sees private consumption growing 3.1%.


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