Australia Retail November 2019

Australia

Australia: Pre-Christmas shopping and marketing promotions power sharpest jump in retail sales in two years

January 10, 2020

Nominal retail sales in November surged 0.9% over the previous month in seasonally-adjusted terms, following October’s 0.1% uptick and marking the strongest reading in two years. The reading came significantly above market expectations of a 0.4% increase and benefited significantly from Black Friday sales. This could nonetheless result in weaker sales in December, which might also be affected by the impact of the worst bushfire season on record.

November’s reading was the result of higher sales in clothing, footwear and personal accessory, food, household goods, department stores and cafes, restaurants and takeaway food services more than offsetting lower sales in other retailing.

In annual terms, retail sales expanded 3.2% in November, up from October’s 2.7% increase. Meanwhile, annual average growth in retail sales inched was stable at October’s 2.7% in November.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 2.1% in 2020, which is down 0.1 percentage points from last month’s forecast. In 2021, the panel expects private consumption to grow 2.4%.


Author: Massimo Bassetti, Economist

Sample Report

Looking for forecasts related to Retail in Australia? Download a sample report now.

Download

Australia Retail Chart


Australia Retail November 2019

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


Australia Economic News

More news

Search form