In November, retail sales rose 1.4% in nominal terms over the same month the year before, according to the Australian Bureau of Statistics (ABS). The result was slightly above the 1.2% increase recorded in the previous month, which had marked the smallest increase in retail sales since June 2010. On a month-on-month basis, retail sales recovered from the seasonally adjusted 0.8% drop recorded in October, which had marked the first drop since March 2010, rising a seasonally adjusted 0.3%. Owing to the moderate November increase, annual average variation in retail sales dropped from 3.2% in October to 2.8%, continuing the virtually uninterrupted downward trend in place since March 2010 and marking the slowest pace since February 2006.
Retail sales post meagre growth in November
January 10, 2011
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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.