Australia: Retail sales inch up in October
December 4, 2015
Nominal retail sales recorded a 0.6% increase in October over the previous month, in seasonally-adjusted terms. The figure was up from last month’s reading of 0.4% and coincided with market expectations. The categories of food and household goods retailing observed the strongest increases in October, while clothing and footwear fell.
On a year-on-year basis, the pace of growth in retail sales increased from a 3.9% rise in September to a 4.4% expansion in October. Despite the yearly improvement, annual average growth in retail sales in October fell from a 4.4% increase in September to 4.3%.
Author: Robert Hill, Economist