Australia: Yearly retail sales growth increases in December
February 5, 2016
Nominal retail sales remained unchanged in December, as they recorded flat growth over the previous month, in seasonally-adjusted terms. The figure was down from November’s 0.4% increase, and surprised analysts on the downside, as they expected a 0.5% increase. The household goods retail volumes observed the strongest increase, while the clothing, footwear and accessories saw the largest decline.
On a year-on-year basis, the pace of growth in retail sales accelerated from a 3.8% increase in November to a 4.7% expansion in December. As a result, annual average growth in retail sales in December inched up from a 4.2% increase in November to a 4.3% rise.
Author: Robert Hill, Economist