Retail sales outshine expectations

 In Australia, NewZealand

Retail sales have risen by 0.9 per cent for the month of January, surpassing economists’ expectations, following three consecutive months of falls.
Economists had expected a 0.4 per cent rise after a 0.4 per cent slide during the December shopping period.
The largest contributor to the surprise lift was other retailing, which rose by 2.6 per cent. More retailing includes recreational goods, pharmaceuticals and stationary. More consumers bought household goods (up 0.3 per cent), food (up 0.3 per cent) and ate out (up 1 per cent).
At the same time, there was a 0.7 per cent increase in clothing, footwear and accessory sales, although department sales fell by 0.6 per cent.
The increase in sales was the highest since June.  Sydney Morning Herald – Read more…

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