Australian retail sales dim in December, but Q4 is bright

Sydney

AUSTRALIAN retail sales eased more than expected in December after a barnstorming couple of months, but still posted a smart rebound in the final quarter of 2017 in a positive sign for household consumption and economic growth.

Thursday's figures from the Australian Bureau of Statistics (ABS) showed retail sales eased 0.5 per cent in December, from November when they rose a solid 1.3 per cent led by Black Friday discounts. Economists polled by Reuters had predicted a 0.2 per cent fall.

The pullback in part reflected the impact of online discounting events in November which brought spending forward. Online sales grew 6 per cent in original terms in December, after jumping 20 per cent in Nove…