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.