Australia: Retail sales contract in December
February 6, 2017
Nominal retail sales growth contracted in December, registering a 0.1% month-on-month fall in seasonally-adjusted terms, contrasting November’s 0.2% increase. The contraction was driven by a sizable drop in sales in the household goods subgroup, offsetting gains in food retailing and clothing, footwear and personal accessory retailing.
On a year-on-year basis, retail sales growth fell from 3.9% in November to 3.7% in December. Annual average growth in retail also fell from 3.9% in November to 3.7% in December.
Author: Christopher Mc Innes, Economist