In September, retail sales rose 4.5% over the same month last year in nominal terms, according to the Australian Bureau of Statistics (ABS), which was above the 3.5% expansion recorded in the previous month. On a month-on-month basis, retail sales grew a seasonally adjusted 0.3%, the same pace as in August. Owing to the September pick-up, annual average variation in retail sales remained unchanged at August's 3.6%, halting the downward trend in place since March this year. Meanwhile, the quarterly retail trade gauge released by ABS, which measures retail sales in real terms, increased 0.7% annually in the third quarter. The figure came in below the increase 1.0% increase recorded in the previous quarter and also fell short of market expectations of a 1.1% rise.
Retail sales below expectations in third quarter
October 5, 2010
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Australia Economic News
October 12, 2016
The Westpac-Melbourne Institute Survey of Consumer Sentiment increased 1.1% in October as the index rose from September’s 101.4 to 102.4.
October 11, 2016
The business confidence index published by the National Australia Bank (NAB) was stable in September at August’s 6 points.
October 5, 2016
Nominal retail sales inched up 0.4% in August from the previous month in seasonally-adjusted terms, up from July’s flat reading.
October 4, 2016
At its 4 October monetary policy meeting, the Reserve Bank of Australia (RBA) kept its policy rate steady at an all-time low of 1.50% after cutting its rate by 25 basis points twice this year, once in May and once in August.
September 15, 2016
The labor market lost 3,900 net new jobs in August compared to the previous month in seasonally-adjusted terms.