Australia: Retail sales hit 3-month low in November
January 9, 2015
Nominal retail sales rose 0.1% in November over the previous month in seasonally-adjusted terms, which was below the 0.4% increase recorded in October and marked a three month low. The result undershot market expectations of a 0.2% rise.
On a year-on-year basis, the pace of growth in retail sales decelerated from the 6.3% increase tallied in October to a 4.1% rise in November. In addition, annual average growth in retail sales declined from October’s 5.5% to 5.4% in November.