Australia retail sales -1.8% in June, +0.8% for Q2

[SYDNEY] Australian retail sales fell sharply in June as coronavirus lockdowns shut whole sectors of retailing, a disappointing end to what had been a strong quarter for spending and just a taste of the damage to be done this quarter.

Retail turnover in June fell 1.8 per cent from a month earlier, the biggest drop this year, figures from the Australian Bureau of Statistics (ABS) showed on Wednesday.

Adjusted for inflation, sales were still up 0.8 per cent for the entire June quarter, thanks to growth in April and May.

Analysts fear sales will tumble this quarter given Sydney is all but shut down and restrictions have hit other major cities as the Delta variant spreads.

REUTERS