A big miss for retail spending

Retail +0.1% m/m

  • expected +0.7% m/m, prior -0.2%
  • Spending fell in four of the six retail industries in September
  • The largest movements came from sales of goods including appliances and furniture (durables), down $15 million or 1.2 percent, offset by grocery and liquor sales (consumables), up $15 million or 0.8 percent.

Total -0.1%

  • prior +0.6%

For the September quarter as a whole:

Overall retail spending September 2017 quarter down 0.1 percent

  • compared with a 0.6 percent rise in the June quarter
  • "This drop in fuel spending coincided with lower fuel prices at the beginning of the quarter," retail manager Sue Chapman said.
  • Spending rose in five of the six retail industries in the September quarter
  • Core retail spending (which excludes the vehicle-related industries) rose 0.9 percent in the September 2017 quarter, after a 1.1 percent rise in the June 2017 quarter