Australian retail sales flat in April as consumers tighten purse strings Australian retail sales missed expectations in April, remaining flat from the prior month as a rising cost of living and high interest rates saw consumers pulling back further on spending big. 

Retail sales were flat in April from the prior month, data from the Australian Bureau of Statistics (ABS) showed on Friday. The reading missed expectations for a rise of 0.3%, and showed that growth was slowing after a 0.4% rise in March.

Most retail sectors saw a drop in sales, with only department stores and clothing seeing gains as consumers spent chiefly on warm clothing ahead of the winter season.

Spending on food also remained relatively high amid steep food price inflation, but dropped in April from the prior month. 

Overall retail spending suffered as inflation remained pinned near 30-year highs, and as continued interest rate hikes by the Reserve Bank pushed up mortgage costs.

“Retail turnover has plateaued over the last six months as consumers spent less on discretionary goods in response to cost-of-living pressures and rising interest rates,” Ben Dorber, ABS head of retail statistics, said in a statement. 

Dorber noted that the return of cultural events after the COVID-19 pandemic was also helping keep retail spending somewhat buoyed.

Friday's reading came as a private survey showed earlier this month that Australian consumer sentiment was at its worst level since the COVID-19 pandemic and the 2008 financial crisis. 

A sharp rise in interest rates over the past year has largely weighed on the economy, with the RBA now forecasting weak economic growth in the coming months.

While a robust labor market has still helped support some spending and sentiment, the RBA also expects this to change as economic growth cools. 

Australia’s job market unexpectedly contracted in April, while unemployment rose from near 50-year lows. Wage price growth has also largely stalled in the country. 

Begin trading today! Create an account by completing our form

Privacy Notice

At One Financial Markets we are committed to safeguarding your privacy.

Please see our Privacy Policy for details about what information is collected from you and why it is collected. We do not sell your information or use it other than as described in the Policy.

Please note that it is in our legitimate business interest to send you certain marketing emails from time to time. However, if you would prefer not to receive these you can opt-out by ticking the box below.

Alternatively, you can use the unsubscribe link at the bottom of the Demo account confirmation email or any subsequent emails we send.

By completing the form and downloading the platform you agree with the use of your personal information as detailed in the Policy.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.8% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Back to top

Office network

One Financial Markets is the trading name of Axi Financial Services (UK) Ltd, a company registered in England with company number 6050593. Axi Financial Services (UK) Ltd is authorised and regulated by the Financial Conduct Authority in the UK (under firm reference number 466201) and the Financial Sector Conduct Authority in South Africa (with FSP number 45784).

The information on this site is not directed at residents of the United States, Belgium, Poland or any particular country outside the UK and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation. is owned and operated by Axi Financial Services (UK) Ltd.

Award winning broker
We have been presented with a number of awards that recognise the quality of our service and dedication to our clients :

Best FSA Regulated Broker
Saudi Money Expo

Best Education Product
Saudi Money Expo

Best Broker - Online Trading
IAIR Awards

Best Institutional Broker
Saudi Money Expo

Best FX Services Broker
CN Forex

Top International
FX Broker 2015

Saudi Money Expo

Broker of the Year
Online Trading – Middle East

IAIR Awards

Best Forex
Customer Service 2018

JFEX Awards

We accept the following payment methods: