Home > Industry > March Retail Sales Fall Flat

March Retail Sales Fall Flat

Latest research from the ABS reveals retail sales in March fell flat, remaining unchanged from February’s increase of 0.6%. The results fall short of economists’ expectations for a 0.2% lift.

Despite soft performance, annual sales growth notched 3.2%, up from February’s 3%.

The result is reportedly the fastest increase since July 2017.

Quarterly retail sales turnover also fell short, climbing 0.2% for the three months to March 31st. The results fall below forecasts for a 0.5% lift.

It’s significantly less than the 0.8% increase notched in the last quarter of 2017.

Aligning with several analysts’ remarks, March’s results reflect the impact of Chinese New Year in February, which was attributed to boosted results.

[ABS – March 2018]

Excluding ‘food retailing’, all other retail industries posted a decrease in March.

‘Other retailing’ notched 0.6%, household retailing 0.3% and department stores posted 0.5%.

For the period, retail turnover fell in four Australian states – NSW, QLD, WA and TAS.

Read the ABS’ full March retail sales report

Quarterly retail sales turnover also missed the mark, climbing 0.2% for the three months to March 31st. The result missed forecasts for a 0.5% lift.

It’s significantly less than the 0.8% increase notched in the last quarter of 2017.

 

Read the ABS’ full March retail sales report here.



You may also like
China Smart Tech Power Puts Australian Economy At Risk
Aus Retail Spending Rebounds Faster Than Expected
Stock Shortages Now Omicron Challenges Retailers, David Jones Speaks Out
Optimism In Aussie Retail Sector Hits 10-Year-High: Deloitte
Black Friday Set To Be Biggest Spending Day This Year