Retail Australia May 2022

Retail sales rose a seasonally adjusted 0.9% m/m in May, in line with gains in April.

According to the publication, sales of home goods rose in May, while sales of clothing and footwear declined. Finally, sales accelerated in department stores, as well as in cafes, restaurants and takeaway food delivery services.

Retail sales rose 10.4% year-on-year in May, a deterioration from the 11.1% growth in April.

FocusEconomics Consensus Forecast experts are still assessing the latest developments.