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Financial News: Australia Retail Sales Jump 7.3% In November

Australia Retail Sales Jump 7.3% In November

01/10/2022 - 19:46:00 (RTTNews)

(RTTNews) - The value of retail sales in Australia was up a seasonally adjusted 7.3 percent on month in November, the Australian Bureau of Statistics said on Tuesday - coming in at A$33.411 billion.

That beat expectations for an increase of 3.9 percent and was up from 4.9 percent in October.

Pent-up consumer demand combined with an extended November sales period saw record sales in clothing, footwear and personal accessory retailing (38.2 per cent), household goods retailing (11.6 per cent), department stores (26.0 per cent) and other retailing (7.3 per cent). Consumers brought forward Christmas spending to take advantage of sales and minimize delivery and stock availability concerns ahead of the festive season.

Food retailing was the only industry to fall this month, down 2.5 per cent, continuing the post-lockdown pattern where food retailing, including supermarkets, liquor etc. falls, while cafes, restaurants, and takeaways rise (9.3 per cent) as households venture out again.

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