Australian Retail Sales +0.3% On Month In October

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Retail sales in Australia were up a seasonally adjusted 0.3 percent in October compared to the previous month, the Australian Bureau of Statistics said on Thursday. That was in line with analyst expectations following the 0.2 percent monthly decline in September.

Among the components that posted gains, department store sales were up 1.9 percent, followed by cafes, restaurants and takeaway food services at 1.1 percent and household goods retailing at 0.1 percent. Finishing lower were sales among clothing, footwear and other personal accessories (-0.2 percent), food retailing (-0.1 percent) and other retailing (-0.1 percent).

On a regional basis, the Northern Territory (1.8 percent) recorded the largest increase in sales, followed by Tasmania (1.5 percent), New South Wales (1.2 percent) and Western Australia (0.9 percent). Sales fell in Victoria (-0.9 percent), the Australian Capital Territory (-0.6 percent) and Queensland (-0.2 percent) and South Australia was unchanged in October.

(Market News Provided by RTTNews)