Australia Retail June 2022
Retail sales growth expanded 0.2% in month-on-month seasonally-adjusted terms in June, down from May’s 0.7% increase.
Looking at the details of the release, household goods and department store sales fell in June, as did food retailing. Meanwhile, clothing and footwear sales swung to expansion, while cafes, restaurants and takeaway food services sales rose.
Retail sales increased 12.2% in annual terms in June, which was an improvement from May’s 10.2% 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%.