Australia October retail sales beat estimates

The official data released today shoed consumption as represented by retail sales rose 0.5 percent in October, beating the estimated rise to 0.3 percent from the previous month's print of 0.0 percent. The trend estimate for Australian retail turnover fell 0.1 percent in October 2017 following a relatively unchanged estimate (0.0 percent) in September 2017. Compared to October 2016 the trend estimate rose 1.8 percent. Online retail turnover contributed 4.7 percent to total retail turnover in original terms.

October key points

Current prices

• The trend estimate fell 0.1% in October 2017. This follows a relatively unchanged estimate (0.0%) in September 2017, and a relatively unchanged estimate (0.0%) in August 2017.
• The seasonally adjusted estimate rose 0.5% in October 2017. This follows a rise of 0.1% in September 2017 and a fall of 0.6% in August 2017.
• In trend terms, Australian turnover rose 1.6% in October 2017 compared with October 2016.
• The following industries fell in trend terms in October 2017: Household goods retailing (-0.6%), Other retailing (-0.2%), and Clothing, footwear and personal accessory retailing (-0.1%). Food retailing (0.1%), Cafes, restaurants and takeaway food services (0.1%), and Department stores (0.2%) rose in trend terms in October 2017.
• The following states and territories fell in trend terms in October 2017: Western Australia (-0.3%), Queensland (-0.1%), Victoria (-0.1%), the Northern Territory (-0.4%), the Australian Capital Territory (-0.2%), and Tasmania (-0.1%). New South Wales (0.0%) was relatively unchanged. South Australia (0.1%) rose in trend terms in October 2017.