Friday’s retail sales figures released by the ABS will contribute little to June quarter GDP when the national accounts are released early next month.
As noted then, seasonally adjusted monthly sales rose by 0.4% in the month of June to be up just 2.5% over the year, with a clear downtrend evident:
In quarterly real chain volume terms, retail sales grew by 0.2% in the June quarter, which was above the March quarter’s 0.1% decline:
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