Australia retail trade
- Prior was +0.2% (revised to -0.1%)
- Change compared to a year earlier -1.0%, seasonally adjusted
This is the strongest quarterly growth since Q3 2022 but it comes largely thanks to a downward revision to Q2.
Ben Dorber, ABS head of retail statistics, said: “The rise in December retail sales volumes was supported by lower price growth for retail goods. Consumers particularly took advantage of discounting for discretionary items like furniture and electronic goods.”
Headline retail sales growth looks strong as there is still a step up from pre-covid.
quarterly retail turnover Australia
But there is a caveat. It’s largely a mirage due to inflation and population growth. Though still above pre-pandemic levels, spending per capita is only moderately above where it was in 2018.
retail turnover per capita
On the inflation side, prices are up 2.4% year-over-year.