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Australia's retail turnover up 0.7 pct in November 2013

English.news.cn   2014-01-09 10:31:24            

SYDNEY, Jan. 9 (Xinhua) -- Australia's retail turnover rose 0.7 percent in November 2013, following a rise of 0.5 percent in the previous month, the Australian Bureau of Statistics (ABS) reported on Thursday.

The latest ABS retail trade figures beat economists' expectations of a 0.4 percent rise.

Total retail trade turnover at current prices was 22.46 billion AU dollars (19.98 billion U.S. dollars) in November, according to the ABS.

Through the year, Australian retail turnover rose 4.6 percent in November 2013, seasonally adjusted, compared to November 2012, the ABS said.

National Australia Bank senior economist Spiros Papadopoulos said the rise in retail sales in November came after three months of solid growth.

"This provides more evidence that the consumer sectors are improving," Papadopoulos said.

"This will make the RBA (Reserve Bank of Australia) more confident that they've cut policy enough to support recovery."

Editor: Mengjie
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