Australia: Retail sales slow in November
January 8, 2016
Nominal retail sales recorded a 0.4% increase in November over the previous month, in seasonally-adjusted terms. The figure was down from last month’s reading of 0.6% and coincided with market expectations. The categories of food and household goods observed the strongest increases in November, while department store retail fell.
On a year-on-year basis, the pace of growth in retail sales inched down from a 4.4% increase in October to a 3.8% expansion in November. As a result, annual average growth in retail sales in November fell from a 4.3% increase in October to a 4.2% rise.
Author: Robert Hill, Economist