Australia: Retail sales slow in October but exceed expectations
December 4, 2014
Nominal retail sales rose 0.4% in October over the previous month in seasonally-adjusted terms, which was below the 1.3% increase recorded in September. The result overshot market expectations of a 0.1% rise in retail sales.
On a year-on-year basis, the pace of growth in retail sales decelerated from the 6.8% increase tallied in September to a 6.3% rise in October. However, annual average growth in retail sales improved from September’s 5.4% growth rate to a 5.5% expansion, which marked the highest average since February 2010.