Australia: Pace of contraction in retail sales softens in September
Nominal retail sales in August fell 1.1% over the previous month in seasonally-adjusted terms, following August’s 4.0% slump.
Particularly pronounced decreases were recorded in household goods retailing; food retailing and clothing, footwear and personal accessory retailing. On the other hand, cafes, restaurants and takeaway food services and department stores retailing expanded.
In annual terms, retail sales rose 6.6% in September, following August’s 5.4% expansion. Meanwhile, annual average growth in retail sales rose from 4.2% in August to 4.6% in September.