Australia: Growth in retail sales slows in November
January 10, 2017
Nominal retail sales growth slowed in November, registering a 0.2% month-on-month rise in seasonally-adjusted terms, below October’s 0.5% increase and analysts’ expectations of 0.4% growth. The slowdown was driven by slower sales growth in the cafes, restaurants and takeaway services subgroup, offsetting stronger household goods sales.
On a year-on-year basis, retail sales growth increased from 2.1% in October to 3.9% in November. Annual average growth in retail sales was stable at October’s 3.9%.
Author: Christopher Mc Innes, Economist