Retail sales in Australia increased by 8.5 percent month-over-month in March of 2020, compared to a preliminary reading of 8.2 percent and after an upwardly revised 0.6 percent gain in the prior month. This was the biggest monthly rise in retail trade on record, as a lockdown due to the COVID-19 outbreak led to panic buying of food and other essential items. Sales went up further food retailing (24.1 percent vs 1 percent in February), other retailing (16.6 percent vs 0.2 percent), and household goods retailing (9.1 percent vs 0.9 percent). Partially offsetting the increases there were declines in cafes, restaurants and takeaway food services (-17 percent vs -6.9 percent), clothing, footwear and personal accessory retailing (-22.6 percent vs -3 percent), and department stores (-8.9 percent vs 3.8 percent).
Retail Sales MoM in Australia averaged 0.48 percent from 1982 until 2020, reaching an all time high of 8.50 percent in March of 2020 and a record low of -10.60 percent in July of 2000. This page provides - Australia Retail Sales MoM - actual values, historical data, forecast, chart, statistics, economic calendar and news. Australia Retail Sales MoM - data, historical chart, forecasts and calendar of releases - was last updated on May of 2020. source: Australian Bureau of Statistics
Retail Sales MoM in Australia is expected to be -1.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Retail Sales MoM in Australia to stand at 0.30 in 12 months time. In the long-term, the Australia Retail Sales MoM is projected to trend around 0.50 percent in 2021 and 0.40 percent in 2022, according to our econometric models.