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Australia retail sales grow 0.5% in September  Join our daily free Newsletter

MENAFN - 05/11/2012

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(MENAFN) Official data showed that Australian retail sales grew more than expected in September, but still weaker than gaining a momentum in spending for the whole third quarter, Reuters reported.

The recent data from the government showed that retail sales rose 0.5 percent in September, compared to August when they grew by 0.3 percent.

The increase was just above forecasts of a 0.4 percent gain, yet inflation adjusted sales for the third quarter still dipped 0.1 percent due to weakness back in July.

Other government data unveiled a USD1.51 billion trade deficit for Australia in September, down from USD1.94 billion in August.

That was attributed mainly to weakness in imports than any recovery in exports, which fell 0.6 percent on lower prices for iron ore and coal.

 






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