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Australia Oct Retail Sales (MoM) 0.3%....>

DATA REACT
DATA REACT: Australia Oct Retail Sales (MoM) 0.3% (est. 0.5%, prev. 0.1%)
- Westpac note that despite the previous month being revised up to 0.1% from
0.0% sales "still show a significant slowing with annual sales growth falling to
1.8%yr from 3.7% in June."
- "Overall, the result suggests some of the headwinds impacting retail -
pressures on family finances impacting consumer spending, and aggressive price
competition - eased in Oct. The near term outlook still looks far from positive
though with weak wages growth, a slowing housing market and softening sentiment
to impact demand and new entrants, most notably Amazon, set to intensify price
competition. The latter will likely see some boost to retail as Amazon's sales
get included but will likely displace sales from other retailers and impact
pricing in some categories."

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