Australia: Retail sales moderate in January
March 6, 2012
In January, retail sales rose 2.4% in nominal terms over the same month last year, according to the Australian Bureau of Statistics (ABS). The result came in below the 2.9% increase recorded in December (previously reported: +2.8% year-on-year). On a month-on-month seasonally adjusted basis, retail sales expanded 0.3% over December, which contrasted the 0.1% drop recorded in the previous month and marked the largest increase since September last year. The trend remained stable, as annual average growth in retail sales was unchanged at December's 2.4%.
Author: Armando Ciccarelli, Head of Data Solutions