Australia: Retail sales growth jumps in November
January 11, 2022
Retail sales jumped 7.3% in month-on-month seasonally-adjusted terms in November, which followed October's 4.9% increase and benefited from easing Covid-19 restrictions.
The headline reading reflected expansions in housing goods retailing; clothing, footwear and personal accessory retailing; department stores; and, cafes, restaurants and takeaway food services. This more than offset a slight contraction in food retailing.
In annual terms, retail sales expanded 6.2% in November, following the 4.6% increase logged in October. Meanwhile, annual average growth in retail sales eased to 5..8% in November from 6.2% in October.