Australian Retail Sales surprise to the upside at 0.4%

Galtero Lara
Enero 13, 2019

"These industries were impacted by strong promotional activity in the November month, including Black Friday sales", he said.

This was in spite of the 8.7 per cent increase in sales that was notched by department stores, which SingStat said was "partially from higher sales during the Black Friday period".

Cumulative credit card spending through the CBA's network fell 3.7% between November to early January compared to the levels of a year earlier, underscoring the risk of weakness in the December retail sales report.

While the November retail sales growth of 0.4 per cent was decent, it was substantially lower than the same period previous year.

Economists had predicted a turnover boost on the nation's relatively recent embrace of Black Friday and Cyber Monday sales seen in the US.

The retail sales increased 0.2 percent month-on-month on a seasonally adjusted basis in November, compared to a 0.3-percent decrease in October. Takings slid by 22.1 per cent, against a high base from major mobile phone launches in the same period the year prior.

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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.

Turnover also increased by 0.6%, 0.4% and 0.1% respectively in Western Australia, Queensland and Victoria, offsetting declines of 0.9% and 0.2% respectively in the Northern Territory and Tasmania.

The seasonally adjusted estimate rose 0.4% in November 2018.

The yield on Australia's benchmark 10-year note, which moves inversely to its price, traded flat at 2.315 percent, the yield on the long-term 30-year bond remained steady at 2.843 percent and the yield on short-term 2-year stood at 1.899 percent by 04:00GMT.

November turned out to be a solid month for retailers, as shoppers brought forward their Christmas spending. Research from Criteo that was released well before Christmas also suggested that consumers would start making purchase decisions as early as October, ready to process their online transactions during November's online sales events.

Medical goods and toiletries saw growth of 4.8 per cent, on the back of more cosmetics and toiletries being sold, while the furniture industry grew by 3.3 per cent amid higher sales of household equipment.

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