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Australia retail sales dropped -1.8% mom in Jun on return to restrictions

According to preliminary estimate, Australia retail sales dropped -1.8% mom or AUD -515.1m in June 2021. Comparing to June 2020, sales rose 2.9% yoy. Victoria (-3.5 per cent) led the state falls in June, with the impact of the state’s fourth lockdown more pronounced in June than May (-0.9 per cent). New South Wales (-2.0 per cent) and Queensland (-1.5 per cent) also fell due to stay-at-home restrictions and reduced interstate mobility.

Ben James, Director of Quarterly Economy Wide Surveys, said: “June’s fall in turnover was due to the impact of coronavirus restrictions across multiple states. Victoria saw restrictions from the start of the month, which were gradually eased from the 11th of June.  New South Wales, in particular Greater Sydney, saw stay-at-home orders issued towards the end of the month.  Other states and territories saw interrupted trade due to mini-lockdowns, as well as reduced mobility between states with the tightening of border restrictions.”

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