Australia: Retail sales edge down in December
February 6, 2012
In December, retail sales rose 2.8% in nominal terms over the same month the year before, according to the Australian Bureau of Statistics (ABS). The result came in below the 3.1% increase recorded in November. On a month-on-month seasonally adjusted basis, retail sales contracted 0.1% over November, which contrasted the 0.1% increase recorded in the previous month and marked the first drop since June 2011. Nevertheless, the trend improved, as annual average growth in retail sales inched up from 2.3% in November to 2.4% in December. In addition, the ABS released quarterly figures for retail trade in real terms. In the fourth quarter, retail trade expanded 0.3% over the same quarter the previous year, which mirrored the 0.3% increase in Q3 and represented a fourth consecutive quarter of positive growth in real retail sales.
Author: Armando Ciccarelli, Head of Data Solutions