Australian retail sales surge record 8.2% in Q4

[SYDNEY] Australian retail sales surged by a record in the December quarter as the end of coronavirus lockdowns unleashed a wave of pent-up spending, delivering a major boost to economic growth.

Figures from the Australian Bureau of Statistics (ABS) on Monday showed retail sales rose 8.2 per cent when adjusted for inflation in the quarter to A$93.2 billion (S$88.7 billion). That was easily the largest increase on record and beat forecasts of 8.1 per cent.

The ABS said spending on clothing, footwear and personal accessories rose 43.1 per cent, while cafes, restaurants and takeaway food services gained 18.8 per cent, department stores 25 per cent and household goods 9.0 per cent. REUTERS