From the ABS comes preliminary retail sales data for November:
Key statistics
The seasonally adjusted estimate rose 7.0% ($2,071.6m) from October 2020 to November 2020.
In seasonally adjusted terms, Australian turnover rose 13.2% in November 2020 compared with November 2019.
Victoria (21%) led the rises, with November seeing the first full month of trade following the easing of coronavirus restrictions in that state.
Excluding the Victorian rise, monthly turnover rose 2.7% in seasonally adjusted terms.
South Australia, which saw a three day period of restrictions in November, saw a flat result. A rise in Food retailing in South Australia was offset by falls in most other industries.
By industry, Household goods led the rises (13%), impacted by a full month of trade in Victorian stores, a successful Black Friday sales period, and new product releases in the Electrical and electronic goods subgroup.
Monthly rises were also significant in Clothing, footwear and personal accessory retailing, Department stores, Other retailing, and Cafes, restaurants and takeaway food services…
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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.
