Australia retail sales news: turnover lifts 0.4% in November
Australia’s retail sales report reveals turnover lifted to 0.4% in November coming in higher than forecasts
According to the Australian Bureau of Statistics, Australia’s retail sales report reveals turnover lifted to 0.4% in November coming in higher than forecasts.
Economists had forecast an increase in turnover of 0.3%, the same as October.
It is predicted the figures could lead to a spike in December's report, as Christmas turnovers are expected higher.
According to Quarterly Economy Wide Surveys (QEWS), household goods retailing led the rises at 1.2%, while there was also a 1.5% rise in clothing, footwear and personal accessories.
QEWS says the rise was due to “strong promotional activity” in November including Black Friday sales.
ABS figures show online retail turnover contributed 6.6% to total retail turnover in November 2018, up from 5.9% in October 2018.
The online retail numbers are the highest level recorded, with last year’s November online retail turnover contributing less with a 5.5% rise.
Meanwhile, cafes, restaurant and takeaway services retailing both had minor falls in November, down 0.1%.
By state, in seasonally adjusted terms, New South Wales rose 0.8% making it one of the strongest rises. Queensland rose 0.4%, Western Australia up 0.6%, and the Australian Capital Territory up the highest at 1.6%.
Victoria among the lowest with 0.1% rise, and South Australia was unchanged, not rising in November. Meanwhile there were falls in the Northern Territory, dropping 0.9% and Tasmania 0.2%.
Australia dollar price
The Australian dollar affected, challenging $0.7200 on the back of the news.
AUD/USD reached a high of $0.7205 in the hour after the data was released.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
See an opportunity to trade?
Go long or short on more than 16,000 markets with IG.
Trade CFDs on our award-winning platform, with low spreads on indices, shares, commodities and more.
Live prices on most popular markets