Australia Q4 retail sales +0.3% vs +0.1% expected

<ul><li>Prior was +0.2% (revised to -0.1%)</li><li>Change compared to a year earlier -1.0%, seasonally adjusted</li></ul><p>This is the strongest quarterly growth since Q3 2022 but it comes largely thanks to a downward revision to Q2.</p><p>Ben Dorber, ABS head of retail statistics, said: “The rise in
December retail sales volumes was supported by lower price growth for
retail goods. Consumers particularly took advantage of discounting for
discretionary items like furniture and electronic goods.”</p><p>Headline retail sales growth looks strong as there is still a step up from pre-covid.</p><p>But there is a caveat. It's largely a mirage due to inflation and population growth. Though still above pre-pandemic levels, spending per capita is only moderately above where it was in 2018.</p><p>On the inflation side, prices are up 2.4% year-over-year.</p>

This article was written by Adam Button at www.forexlive.com.