Australian retail sales rose 7% mom in November to AUD 2072B, well above expectation of 2.5% mom. In seasonally adjusted terms, sales turnover rose 13.2% yoy.
Ben James, Director of Quarterly Economy Wide Surveys, said: “Victoria saw a large rise, up 21 per cent, as retail stores experienced a full month of trade following the easing of coronavirus restrictions in that state. Excluding Victoria, retail sales rose 2.7 per cent.
