Retail Sales Steady, But Not Great: ABS Data

Stronger than expected growth in retail sales indicate inflation still a concern and may see interest rates rise in November.

People can be seen in front of the Myers store in the city of Melbourne, Australia, on Oct. 27, 2023. Susan Mortimer/The Epoch Times

Retail sales increased 0.9 percent in September 2023 compared to the previous month to $35.9 billion for the year, according to the latest Australian Bureau of Statistics Retail Trade data.

Year-on-year data saw retail sales up two percent in September 2023 with cafes, restaurants, and takeaway sales seeing the strongest annual growth, up 6.1 percent, followed by food sales, up 3.5 percent.