Australia: Retail sales decelerate in January
March 1, 2011
In January, retail sales rose 1.4% in nominal terms over the same month the year before, according to the Australian Bureau of Statistics (ABS). The result was below the 2.4% increase recorded in December 2010. On a month-on-month basis, retail sales rose 0.4% over December, which was above the 0.2% increase recorded in the previous month and beat market expectations of a 0.3% rise. As a result of the subdued January reading, the annual average growth in retail sales declined to 2.3% from 2.5% in December, continuing the virtually uninterrupted downward trend in place since March 2010.
Author: Armando Ciccarelli, Head of Data Solutions