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The Australian Bureau of Statistics (ABS) has released retail sales figures for the month of November, which registered a 1.2% seasonally-adjusted jump in sales over the month, with annual sales growth bouncing back to 2.9%:
However, in trend terms, annual retail sales growth fell to just 1.7% – the lowest level on record (i.e. since April 1983).
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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.
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