Australia Retail Sales Sink 4.2% In December

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The total value of retail sales in Australia were down a seasonally adjusted 4.2 percent on month in December, the Australian Bureau of Statistics said on Friday – coming in at A$30.324 billion.

That missed expectations for a decline of 2.5 percent following the 7.1 percent jump in November.

Following the November rise, all industries except for Cafes, restaurants and takeaway food services fell.

Household goods retailing led the falls (-9%), following the Black Friday sales, and new product releases, that boosted turnover in November.

Similarly, Other retailing, Department stores, and Clothing, footwear and personal accessory retailing, saw falls after reporting large rises in November.

Food retailing fell 2%, with sales across the Food industry down in Victoria and New South Wales in line with restrictions on Christmas gatherings.

The material has been provided by InstaForex Company – www.instaforex.com

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