Australia retail sales rise 0.2% MoM in June

It is the smallest increase so far in 2022.

Australian retail sales increased by 0.2% in June compared to the previous month, with seasonally adjusted sales reaching about $24b (A$34.3b), according to data by the Australian Bureau of Statistics (ABS).

ABS Retail Statistics Head Ben Dorber said the increase in June was the sixth-straight jump in retail sales and is the smallest so far this year.

“Results were mixed across the six industries, with turnover rising in three of them and falling in the others, as cost-of-living pressures appear to be slowing the growth in spending,” Dorber said in a statement.

Compared to June 2021, retail sales increased by 12%.

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The highest increase was recorded in cafes, restaurants, and takeaway food services up by 2.7%, followed by clothing, footwear, and personal accessory retailing, and other retailing which rose by 1.3% and 0.5%, respectively.

On the other hand, department stores logged the highest decline by 3.7%, followed by food retailing, and household goods retailing which were both down by 0.3%

Retail sales increased in the Northern Territory (1.8%), Queensland (0.7%), the Australian Capital Territory (0.6%), Western Australia (0.5%) and Tasmania (0.5%), except for New South Wales which declined by 0.2%.

Sales in South Australia and Victoria were relatively unchanged, according to ABS.

$1 = A$1.43