Free Trial

REPEAT: ANALYSIS: Australia Retail Sales Up But Trend Negative

Repeats Story Initially Transmitted at 01:03 GMT Dec 5/20:03 EST Dec 4
     SYDNEY (MNI) - Australia's retail sales rose more than expected in October,
matching a pace last seen in May, as food services grew strongly and household
goods retailing rebounded.
     The data will provide some comfort to the Reserve Bank of Australia, which
has been worried about prospects for household consumption. However, partly
offsetting this positive message is the trend data, which showed the first fall
in m/m retail sales since 2000.
     Data published by the Australian Bureau of Statistics Tuesday show retail
sales rose 0.5% m/m in October and followed an upward revision in September
sales to +0.1% from the flat reading originally published. The October rise was
due mainly to a 1.7% m/m increase in sales at cafes, restaurants and takeaway
services, which rose at the fastest pace this year. Household goods retailing
rose 0.1%, the first rise in four months, following a 0.4% fall in September.
     Clothing, footwear and accessories also rose for the first time in four
months, up 1.0% m/m in October, the biggest increase since May. 
     In trend terms, however, retail sales fell into negative territory in
October, down 0.1% after remaining flat in each of the previous three months.
This was the first fall in trend terms since February 2000.
     Below is table for Retail trade data for October:
                                             October                   September
--------------------------------------------------------------------------------
                                  (M/M %, seasonally          (M/M %, seasonally
                                           adjusted)                   adjusted)
Retail Sales                                    +0.5      +0.1(revised from 0.0)
                                 +0.3 (range +0.1 to
MNI Median                                     +0.4)
Food Retailing                                  +0.3                        +0.7
Household Goods                                 +0.1                        -0.4
Clothing, Footwear etc                          +1.0                        -0.7
Department Stores                               +0.5                        +2.4
Other Retailing                                 +0.3                        -1.9
Cafes, Restaurants,
Takeaways                                       +1.7                        +0.7
--MNI Sydney Bureau; tel: +61 2-9716-5467; email: sophia.rodrigues@marketnews.com
[TOPICS: MTABLE]

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
}); window.REBELMOUSE_ACTIVE_TASKS_QUEUE.push(function(){ window.dataLayer.push({ 'event' : 'logedout', 'loggedOut' : 'loggedOut' }); });