Bad Santa abandons retail sales

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By Leith van Onselen

The Australian Bureau of Statistics (ABS) has released retail sales figures for the month of December, which registered zero seasonally-adjusted growth in sales over the month with annual sales clocking in at 4.2%, and fairly stable:

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The result badly missed analyst expectations of a 0.4% lift in sales over the month.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.