Australia Retail Sales Surge 7.0% In November
The total value of retail sales in Australia spiked a seasonally adjusted 7.0 percent on month in November, the Australian Bureau of Statistics said on Tuesday – coming in at A$31.623 billion.
That blew away expectations for a decline of 0.6 percent following the 1.4 percent increase in October.
By industry, Household goods led the rises (13 percent), impacted by a full month of trade in Victorian stores, a successful Black Friday sales period, and new product releases in the Electrical and electronic goods subgroup.
Monthly rises were also significant in Clothing, footwear and personal accessory retailing, Department stores, Other retailing, and Cafes, restaurants and takeaway food services.
On a yearly basis, retail sales jumped 13.2 percent.