Australia Retail Sales for October, +0.4% m/m
- expected is +0.1%
- prior was +1.3%, revised from +1.2%
- Up 5.7% y/y
Better than expected and the prior revised up also.
AUD responds by jumping … up around 30 points as i update the post
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More:
The following industries rose in trend terms in October 2014:
- Food retailing (0.4%),
- Household goods retailing (0.6%),
- Other retailing (0.4%),
- Cafes, restaurants and takeaway food services (0.4%),
- Clothing, footwear and personal accessory retailing (0.5%)
- and Department stores (0.2%)
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This is a more optimistic reading on this indicator of the economy than we got from the GDP data yesterday.
Especially following the strong rise in September, which was revised even higher. Note, the expectations for this month (October) were quite low after the big jump in September, so today’s exceeding the ‘expected’ is quite impressive indeed.
