Retail Trade

Retail sales ticked up by 0.2% in February, in line with the market expectations, taking the annual growth rate down to 6.4%, which is the lowest level since December 2021. Western Australia saw the strongest gains of 0.8% MoM and 8.8% YoY. The monthly retail sales figures are nominal, which means they reflect both changes in prices and volumes.

Seasonally adjusted retail sales jumped 1.9% in January (mkt exp 1.2%), following a revised 4.0% drop in December (originally -3.9%). The rebound in January maintained the increase in monthly sales volatility that began with a Black Friday sales-related increase of 1.7% in November. The annual growth rate edged up 0.1ppts to 7.5%.

Retail sales volumes ebbed a seasonally adjusted 0.2% in Q4, less than the 0.5% fall expected by the markets. The implicit retail sales deflator rose by 1.1%, which was significantly less than the 2.1% registered in the previous two quarters.

Seasonally adjusted retail sales dropped by 3.9% in December, which was much more than the 0.3% decline expected by the markets. This followed the upwardly revised 1.7% increase in the previous month, driven by Black Friday sales.

Seasonally adjusted retail sales jumped 1.4% in November 2022.

Seasonally adjusted retail sales declined 0.2% in October, against market expectations of a 0.5% increase. Despite the flat result in October, Western Australia continued to lead other states in terms of retail sales performance throughout the pandemic, with a 33.6% gain since January 2020.

Retail sales volumes rose a seasonally adjusted 0.2% in Q3, less than the 0.4% expected by the market participants and down from 1.0% in the previous two quarters. The Q3 increase in sales volumes came despite another strong 2.0% increase in retail sales prices, which was slightly slower than the previous quarter’s upwardly revised growth (2.1%).

Seasonally adjusted retail sales rose by another 0.6% in September in nominal terms, in line with market expectations. Western Australia saw the strongest increase (+1.4%) and continues to lead other states in terms of retail trade performance during the pandemic, with a 33.6% gain since January 2020.

Seasonally adjusted retail sales rose by 0.6% in August in nominal terms, roughly in line with market expectations of a 0.5% gain. Nominal retail sales were up 19.2% through the year.

Seasonally adjusted retail sales rose by 1.3% in July in nominal terms, exceeding market expectations of a 0.2% gain. Retail trade turnover increased in all industries but household goods. Western Australian retail sales rose by a solid 1.6% to be up 32.0% since January 2020, which is the largest gain of all states.