Australia: Retail sales expand steadily in December
February 17, 2011
In December, retail sales rose 2.4% in nominal terms over the same month the year before, according to the Australian Bureau of Statistics (ABS). The result was stronger than the 1.4% increase recorded in November and was in line with the average growth rate recorded over the full year 2010. On a month-on-month basis, retail sales weakened marginally from the seasonally adjusted 0.4% increase (previously reported +0.3%) recorded in November, rising a seasonally adjusted 0.3%. Despite the improvement experienced in December, annual average variation in retail sales eased from 2.8% in November to 2.5%, continuing the virtually uninterrupted downward trend in place since March 2010 and marking the slowest pace since January 2006.