Australia: Retail sales rebound in January
Retail sales increased 1.8% in month-on-month seasonally-adjusted terms in January, contrasting December’s 4.4% fall, when they had been weighed down by the spread of the Omicron variant.
The headline reading reflected expansions in department stores; food retailing; other retailing; and household goods retailing. This more than offset drops in clothing, footwear and personal accessory retailing and in cafes, restaurants and takeaway food services.
In annual terms, retail sales expanded 5.8% in January, following the 5.2% increase logged in December. Meanwhile, annual average growth in retail sales eased to 5.0% in January from 5.3% in December.