Australian Retail Sales surprise to the upside at 0.4%

Joshua Gibson FXStreet

Aussie seasonally-adjusted Retail Sales for November managed to beat expectations, clocking in at 0.4% versus the expected 0.3% (previous figure same).

Key highlights (via ABS)

The seasonally adjusted estimate rose 0.4% in November 2018. This follows a rise of 0.3% in October 2018, and a rise of 0.2% in September 2018.

In trend terms, Australian turnover rose 3.6% in November 2018 compared with November 2017.

The following industries rose in trend terms in November 2018: Food retailing (0.2%), Household goods retailing (0.4%), Other retailing (0.4%), Clothing, footwear and personal accessories retailing (0.5%), and Cafes, restaurants and takeaway services retailing (0.1%). Department stores was relatively unchanged (0.0%).

Online retail turnover contributed 6.6 per cent to total retail turnover in original terms in November 2018, a rise from 5.9 per cent in October 2018. This is the highest level recorded in the series and continues a pattern of increasing online contributions to total sales in November. In November 2017 online retail turnover contributed 5.5 per cent to total retail.

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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