Australia retail sales rose 1.3% mom in March, slightly below the preliminary results of 1.4% mom. Comparing with March 2020, sales rose 2.2% yoy. Ben James, Director of Quarterly Economy Wide Surveys said: “Victoria (3.5 per cent) and Western Australia (5.5 per cent) led rises at the state and territory level, following falls in February associated with local coronavirus lockdowns. Queensland (-0.5 per cent), which saw a short lockdown at the end of March, partially offset these increases.”
Overall, retail sales volume dropped -0.5% in March quarter. James said: “The quarterly volume fall was driven by households spending patterns gradually returning to those seen before COVID-19. Food retailing (-2.7 per cent) led the falls while household goods also fell (-1.6 per cent). The falls were partially offset by a rise in cafes, restaurants and takeaways (5.8 per cent), as eating out increased, while functions and events continued to return.”
