Australian Retail Sales Higher

Australia’s retail sales exceeded expectations in October, sending mixed signals on the economy following below-view economic growth figures earlier this week.

Retail sales rose 0.4 percent from the month before, above expectations for a flat reading in a Reuters poll, and compared with September’s upwardly revised 1.3 percent increase.

Trade data released at the same time showed imports fell a seasonally-adjusted 2.0 percent from September, while exports rose 2.0 percent. This brought the trade deficit to 1.32 billion Australian dollars, compared with expectations of a 1.9 billion deficit.


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