Australia Retail


Retail sales hit seven-month high in September

Nominal retail sales rose 0.8% over the previous month in seasonally-adjusted terms in September. The result, which came in above the 0.5% reading recorded in August (previously reported: 0.4%) and overshot market expectations of a 0.4% increase, marked the largest expansion in seven months.

On a year-on-year basis, the pace of expansion in retail sales edged down from a 3.0% increase in August to a 2.3% rise in September. At the same time, annual average growth in retail sales inched down from August's 2.4% to 2.3%.

FocusEconomics Consensus Forecast panelists see private consumption growing 2.1% in 2013, which is down 0.1 percentage points from last month's forecast. For next year, the panel sees private consumption expanding 2.7%, which is also down 0.1 percentage points from last month's estimate.


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Australia Retail Chart

Australia Retail September 2013

Note: Month-on-month seasonally adjusted and annual variation of retail sales index in %.
Source: Australia Bureau of Statistics and FocusEconomics calculations.

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