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Australia: Retail sales surge in September

November 4, 2014

Nominal retail sales rose 1.2% in September over the previous month in seasonally-adjusted terms, which was above the 0.1% increase recorded in August. The result overshot market expectations of a 0.3% rise and represented the largest expansion since November 2009.

On a year-on-year basis, the pace of growth in retail sales accelerated from the 3.8% increase tallied in August to a 6.8% rise in September. In addition, annual average growth in retail sales improved from August’s 5.0% growth rate to a 5.4% expansion, which marked the highest average since February 2010.

FocusEconomics Consensus Forecast panelists see private consumption growing 2.3% in 2014, which is down 0.2 percentage points from last month’s forecast. For 2015, the panel sees private consumption expanding 2.6%, which is down 0.1 percentage points from the previous month’s forecast.


Author: Angela Bouzanis, Senior Economist

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Australia Retail September 2014

Note: Month-on-month seasonally adjusted changes and annual average variation of retail sales index in %.
Source: Australia Bureau of Statistics and FocusEconomics calculations.


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