Retail sales accelerating?

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Retail sales for October are out and show a an ongoing subdued trend (historically) in the month up 0.5% from September, against expected of 0.4%, prior was 0.2% revised up to 0.3%:

The internals a fairly even mix of flat sales with a bounce in household goods following last month’s plunge.

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This is a stronger month than the last few years of subdued growth:

There is a hint of an accelerated new trend forming in the top right.

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Against this, quarterly seasonally adjusted data for the Q3 was also released and was down 0.1% following the mid year carbon stimulus splurge:

We’re not tearing away to the mall just yet.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.