Australia Retail


Retail sales report stronger-than-expected growth in January

In January, retail sales jumped 0.9% over December, which contrasted the 0.4% drop recorded in the previous month and exceeded market expectations of a 0.5% rise.

As a result of the stronger-than-expected reading, nominal retail sales accelerated from the 0.7% year-on-year increase recorded in December to a 4.2% rise in January, which marked the highest retail in five months. Meanwhile, annual average growth in retail sales inched up from 3.2% in December to 3.4% in January.

FocusEconomics Consensus Forecast panellists see private consumption growing 2.5% in 2013, which is unchanged from last month's forecast. Panellists see private consumption expanding 3.0% in 2014.

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Australia Retail Chart

Australia Retail January 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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