Australian retail sales surge in November on iPhone, Black Friday spree

Sydney

AUSTRALIAN retail sales boasted the biggest monthly rise in four years in November as consumers splashed out on Apple iPhones and Black Friday promotions, a major boost for an economy that had been struggling with sluggish spending.

The Australian dollar jumped a third of a US cent to US$0.7874 as the surprising strength helped counter concerns consumers had lapsed into a near-permanent depression.

Thursday's figures from the Australian Bureau of Statistics (ABS) showed retail sales jumped 1.2 per cent in November from October, when they rose a solid …