Australia: Retail sales edge up in September
November 4, 2011
In September, retail sales rose 2.6% in nominal terms over the same month the year before, according to the Australian Bureau of Statistics (ABS). The result came in slightly above the 2.5% increase recorded in August. On a month-on-month seasonally adjusted basis, retail sales expanded 0.4% over August, which represents a moderation compared to the 0.6% increase recorded in the previous month and matched market expectations. The trend remained stable as annual average growth in retail sales was unchanged at August's 2.3%. In addition, the ABS released quarterly figures for retail trade in real terms. In the third quarter, retail trade expanded 0.9% over the same quarter the previous year, marking an improvement compared to the 0.5% increase in Q2 and representing the second consecutive quarter of positive growth in retail sales.
Author: Armando Ciccarelli, Head of Data Solutions