Australia: Retail sales flat in October
December 3, 2012
In October, retail sales were unchanged over September, which was down both from the 0.5% increase recorded in the previous month and market expectations of a 0.4% rise. Despite the flat monthly reading, nominal retail sales rose 3.0% over the same month last year, which marked an acceleration compared to the 2.6% increase recorded in September. As a result, the trend remained stable, as annual average growth in retail sales was unchanged at September's 3.4%.
Author: Armando Ciccarelli, Head of Data Solutions