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Australian Retail Sales increased by 0.5%

Friday, Dec 02 2016
Australian Retail Sales increased by 0.5%

Australian retail turnover rose 0.5 per cent in October 2016, seasonally adjusted, according to the latest Australian Bureau of Statistics (ABS) Retail Trade figures. This follows a 0.6 per cent rise in September 2016. In seasonally adjusted terms, there were rises in food retailing (0.6 per cent), household goods retailing (0.7 per cent), other retailing (0.8 per cent) and cafes, restaurants and takeaway food services (0.4 per cent). There were falls in clothing, footwear and personal accessory retailing (-0.4 per cent) and department stores (-0.4 per cent) in October 2016.

In seasonally adjusted terms, there were rises in Queensland (0.8 per cent), Victoria (0.5 per cent), New South Wales (0.3 per cent), Western Australia (0.4 per cent), the Australian Capital Territory (0.9 per cent), Tasmania (0.6 per cent) and the Northern Territory (0.3 per cent). South Australia (-0.1 per cent) fell in seasonally adjusted terms. The trend estimate for Australian retail turnover rose 0.4 per cent in October 2016 following a 0.4 per cent rise in September 2016. Compared to October 2015 the trend estimate rose 3.3 per cent.Online retail turnover contributed 3.9 per cent to total retail turnover in original terms.

 

Aussie is currently being traded around 0.7420 level. Pair is likely to find  support around 0.7350 handle and resistance above 0.7480 area.

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