Australia Retail November 2016

Australia

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%.

FocusEconomics Consensus Forecast panelists see private consumption growing 2.6% in 2017, which is down 0.2 percentage points from last month’s forecast. For 2018, the panel sees private consumption expanding 2.8%.


Author:, Economist

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Australia Retail November 2016

Note: Month-on-month seasonally adjusted changes and annual average variation of retail sales index in %.
Source: Australia Bureau of Statistics and FocusEconomics calculations.


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