Australia: Retail sales surprise - TDS
|Australia’s November retail sales popped +1.2%, the largest monthly increase since Feb 2013 (mkt +0.4%, TD +0.2%), notes the research team at TDS.
Key Quotes
“All retail categories, except Department stores recorded a pick-up in sales and retail sales were also up in all states. Although the ABS has suggested the pick-up in retail sales was influenced by iPhone X sales and Black Friday promotions, today’s firmer retail sales print is likely to support the view that the bounce in Oct was not a one off, particularly given that the rise has coincided with strong pick-ups in consumer sentiment and building approvals. Exactly what the Dr (Lowe) ordered!”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.