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.
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