Australia: Retail sales steady in September
November 4, 2015
Nominal retail sales recorded a 0.4% increase in September over the previous month, in seasonally-adjusted terms. The figure was in line with last month’s reading of 0.4% and coincided with market expectations. The categories of food and other retailing observed the strongest increases in September, while clothing and footwear fell.
On a year-on-year basis, the pace of growth in retail sales inched up from a 3.8% increase in August to a 3.9% expansion in September. Despite the yearly improvement, annual average growth in retail sales in August fell from a 4.6% increase in August to a 4.4% rise in September.
Author: Robert Hill, Economist