MNI BRIEF: Aussie Retail Sales Fall In October
Australian retail turnover fell 0.2% in October from September’s 0.9% increase and August’s 0.2% gain, according to figures released today by the Australian Bureau of Statistics today.
All retail categories suffered except food, which increased 0.5%.
“It looks like consumers hit the pause button on some discretionary spending in October, likely waiting to take advantage of discounts during Black Friday sales events in November,” said Ben Dorber, head of retail statistics at the ABS. “This is a pattern we have seen develop in recent years as Black Friday sales grow in popularity.”