Australia Macro Updates

The One Stop Portal for Australia Macroeconomic Data. Simplified and Summarized!

We simplify and summarize key data so that you don’t have to spend hours reading confusing and long media releases. Read key economic releases and major events here in under 2 minutes. And we will explain the key takeaway for you. Stay informed and form a robust view on macroeconomic matters to aid your successful investment decisions

29th May 2024

Retail Trade, Australia

Key takeaway: After a positive start in early 2024, Retail Sales data in Australia has mostly been soft. Retail Sales was up a marginal 0.1% on a SA adjusted basis in April. The print was also lower than consensus expectations of 0.3%. The first 2 months of the year had seen a decent rise in Retail Sales on the back of Cricket and tennis tournaments in Australia and the subsequent Taylor Swift concerts which provided a boost to consumption – especially spending in cafes and spending on clothing footwear, etc. Hence, it was a bit expected to see a moderation in Retail Sales in subsequent months. On the balance, consumers have been cautious with discretionary spending. Clothing sales and food retailing posted drops in the month of April. The level of total retail sales was at AUD 35.7 Bn in April.   

  • Retail Sales increased 0.1% m-o-m in Apr 2024 (Expected 0.3%)

30th Apr 2024

Key takeaway: Retail Sales data is an important consideration for interest rate policy in most countries – and Australia is no exception. Retail Sales recorded a modest decrease of 0.4% m-o-m in March. The first 2 months of the year had seen a decent rise in Retail Sales on the back of Cricket and tennis tournaments in Australia and the subsequent Taylor Swift concerts which provided a boost to consumption – especially spending in cafes and spending on clothing footwear, etc. Hence, it was a bit expected to see a moderation in Retail Sales in March. Though the decrease of 0.4% was higher than consensus estimates of a fall of 0.2%. The largest drops were in Clothing, Footwear and Accessory Retailing and Department Stores. The level of total retail sales was at AUD 35.7 Bn in March.   

  • Retail Sales decreased 0.4% m-o-m in Mar 2024 (Expected -0.2%)

28th Mar 2024

Key takeaway: Retail Sales data is an important consideration for interest rate policy in most countries – and Australia is no exception. Retail Sales recorded a modest increase of 0.3% m-o-m in February.  The rise also comes on the back of a 1.1% increase seen in January. Cricket and tennis tournaments in Australia at the start of the year and the subsequent Taylor Swift concerts provided a boost to consumption – especially spending in cafes and spending on clothing footwear, etc. However, volatility smoothed figures show that retail sales have moderated significantly since 2021-22. The level of total retail sales was at AUD 35.9 Bn in February.   

  • Retail Sales increased 0.3% m-o-m in Feb 2024 (Expected 0.4%)

29th Feb 2024

Key takeaway: Retail Sales data is an important consideration for interest rate policy in most countries – and Australia is no exception. Retail Sales recorded a sharp jump of 1.1% m-o-m in January 2024. However, the rise comes on the back of a sharp fall recorded in December and hence expectations were for an increase anyways. However, the key point to note is that increase was lower than consensus expectations of 1.6%. The level of total retail sales was at AUD 35.7 Bn in January. Sales grew across all categories with Clothing and Footwear increasing the largest at 2.4% and Household goods retailing next at 2.3%.  

  • Retail Sales increased 1.1% m-o-m in Jan 2024 (Expected 1.6%)

30th Jan 2024

Key takeaway: Retail Sales data is an important consideration for interest rate policy in most countries – and Australia is no exception. Retail Sales recorded a sharp drop of 2.7% m-o-m in December 2023 and higher than consensus expectations. Some of the sharp drop can be attributed to the fact that Retail Sales were substantially up (+1.6%) in the previous month of November. The level of total retail sales was at AUD 35.1 bn in Dec. Sales fell across all categories with Household goods falling the largest at 8.5% and Department Stores next at -8.1%.  

  • Retail Sales decreased 2.7% m-o-m in Dec 2023 (Expected -1.0%)

The Retail Trade, Australia publication presents estimates of the value of turnover of retail trade for Australian businesses. This includes all employing retail trade businesses who predominantly sell to households.

The survey includes about 700 large businesses and 2,700 smaller businesses selected by random sample. The survey is conducted monthly primarily by telephone interview.

Australian Bureau of Statistics