Australian retail sales rebound
Australian retail turnover rose by 0.5% in October 2017 according to the latest Australian Bureau of Statistics (ABS) Retail Trade figures. Footwear category was one of the major contributors
According to ABS, retail sales rose by 0.5% in seasonally adjusted terms, surpassing expectations for an increase of 0.3%. This follows a 0.1% rise in September 2017.
"In seasonally adjusted terms, there were rises across all industries led by cafes, restaurants and takeaway food services (1.7%)", commented Ben James, the Director of the Quarterly Economy Wide Survey.
Rises were also registered in categories such as food retailing (0.3%), department stores (0.5%) and household goods retailing (0.1%), with a special highlight to a 1% growth for clothing, footwear and personal accessory retailing.
Like the performance by category, sales also increased in every Australian state and territory, suggesting a consistent recovery in October.
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