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Retail turnover fell 1.8% in June, thanks to a collapse in discretionary spending linked to lockdown restrictions. Lingering lockdowns suggest Australia’s economy is on track to fall by 2% in the September quarter, said Sarah Hunter, Chief Australia Economist for BIS Oxford Economics. Spending is unlikely to bounce back unless retailers receive further government support, industry groups say. The collapse in retail spending for June is more evidence Australia’s GDP will contract in the September quarter, economists say, as industry groups say there’s no guarantee of a spending snap-back once harsh lockdown measures are lifted. The Australian Bureau of Statistics on Wednesday released its detailed June retail turnover data, confirming preliminary estimates of a 1.8% decline over the month to $30.59 billion.

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