Sunday, 9 October 2016

August Retail Sales Are Up

The Australian Bureau of Statistics has placed retail sales up by 0.4% in August. That may not seem a lot but it is the largest monthly rise since January and exceeded expectations.

Sales at Department Stores rose 3.5% after a 5.8% fall in July and cafes, restaurants and takeaway food were also up. The RBA had earlier highlighted concerns over consumption growth, so let’s hope these figures are a sign of some improvement in sentiment.