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Financial News: Australia Retail Sales Slump 2.7% In December

Australia Retail Sales Slump 2.7% In December

02/05/2024 - 19:48:00 (RTTNews)

(RTTNews) - The total value of retail sales in Australia was down a seasonally adjusted 2.7 percent on month in December, the Australian Bureau of Statistics said on Tuesday - coming in at A$35.690 billion.

That was well shy of forecasts for an increase of 0.1 percent following the 1.6 percent gain in November.

Individually, sales of household goods, clothing, department stores, cafes and other all were lower than in the previous month, while food sales were barely higher.

For the fourth quarter of 2023, retail sales rose 0.3 percent on quarter to A$98.301 billion versus expectations for a gain of 0.1 percent, which would have been unchanged from Q3 following a downward revision (originally up 0.2 percent).

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