Retail sales in Australia surged 16.9 percent month-over-month in May 2020, rebounding from a 17.7 percent plunge in the previous month and beating market expectations of a 16.3 percent gain. It was the largest rise in retail trade on record, as a wide-scale easing in COVID-19 lockdowns allowed entire sectors to reopen. Sales increased for all categories: clothing, footwear and personal accessory retailing (129.2 percent vs -53.6 percent in April), cafes, restaurants and takeaway food services (30.3 percent vs -35.4 percent), food (7.2 percent vs -17.4 percent), household goods (16.6 percent vs -0.1 percent), department stores (44.4 percent vs -14.9 percent) and other retailing (9.4 percent vs -14.4 percent). Retailers reported themes of continued spend on home improvements and high demand for recreational goods.
Retail Sales MoM in Australia averaged 0.48 percent from 1982 until 2020, reaching an all time high of 16.90 percent in May of 2020 and a record low of -17.70 percent in April of 2020. 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 July of 2020. source: Australian Bureau of Statistics
Retail Sales MoM in Australia is expected to be 0.20 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 0.80 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.