Australia: Retail sales rebound in October
Nominal retail sales in October expanded 1.4% over the previous month in seasonally-adjusted terms, contrasting September’s 1.1% drop.
Particularly pronounced increases were recorded in cafes, restaurants and takeaway food services, as well as in food clothing, footwear and personal accessory retailing. On the other hand, household goods and food retailing contracted.
In annual terms, retail sales jumped 7.7% in October, following September’s 6.6% expansion. Meanwhile, annual average growth in retail sales rose from 4.6% in September to 5.0% in October.