Sluggish retail sales point to weakening demand

We appear likely to be entering a sustained period of modest growth for retailers, which will increase the focus on margin management as consumer caution continues, write Brendan Rynne and James Stewart.

Seasonally-adjusted retail trade rose by only a modest 1.1 percent over the month in January, following a large decline in sales in December (when consumers brought forward spending in November to take advantage of Black Friday sales), according to Australian Bureau of Statistics (ABS) figures. The monthly growth in retail sales was significantly softer than the consensus expectation of 1.5 percent. Looking through the month-to-month volatility, the trend estimate remained unchanged from De...

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Authors: Brendan Rynne, James Stewart

Published Date: 01 March 2024