Retail spending on the up, but will fade in second half of year

Growth in spending will moderate, with discretionary products such as eating out, household goods and clothing the most exposed to the slowdown, as discussed by Sarah Hunter.

Households managed to largely shake off cost of living pressures in March, with retail turnover rising 1.6 percent on the month (9.4 percent year-on-year), according to the latest data from the Australian Bureau of Statistics. While some of the increase is due to rising prices, the growth in spending looks to have outpaced inflation. Household goods and department stores saw the biggest increases in spending, up 3.4 percent and 4.1 percent on the month respectively. The continued relaxatio...

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Authors: Sarah Hunter

Published Date: 06 May 2022