Retail sales are forecast to fall to 2.7% growth for 2015-16
Retail sales are forecast to fall to 2.7% growth for 2015-16 Claudia Baxter

Recent retail growth could be peak of cycle

DESPITE solid growth in trend retail sales of 4.7% in the year to June, a major economic forecaster says 2014-15 could be the peak of the cycle.

The latest Deloitte Access Economics forecast showed despite the mining construction boom slump, the firing housing market was helping consumers spend.

It said the record low interest rates, a housing supply shortage and continued growth in household goods retailing supported the strongest annual growth in retail spending since 2007-08.

"The good news is that household goods retailers have recently been joined by clothing retailers where sales growth has picked up considerably," the report said.

"Against this picture of strength, food retailing has been going through a slower period of growth, while department stores continue to underperform."

The report said the real, or inflation-adjusted, retail sales growth for the year to June 2014-15 was 3.3%.

It forecast a likely fall to 2.7% for 2015-16 and 2.4% in 2016-17.



Man in court for exposing himself at local shopping centre

Premium Content Man in court for exposing himself at local shopping centre

He told police he wasn’t aware his fly was down and denied the claims when spoken...

Not-for-profit gives kids wings to fly high as school starts

Premium Content Not-for-profit gives kids wings to fly high as school starts

“Growing up it was always so exciting to go get your school books, so we always put...

FISHING REPORT: Where they’ve been biting around Bundy

Premium Content FISHING REPORT: Where they’ve been biting around Bundy

PHOTOS: With the Australia Day holiday just gone, there has been reports of good...