Post-Christmas sales spending less than forecast

Friday, 4 Mar 2016 09:21:25 | Thuy Ong

Retailers enjoyed a big first day of sales after Christmas

Australians spent slightly less than expected in post-Christmas sales, as figures on retail spending in January fell short of forecasts.

The latest figures from the Australian Bureau of Statistics (ABS) show retail trade rose a seasonally adjusted 0.3 per cent in January to $24.83 billion, which was slightly lower than analyst expectations.

A Reuters poll of economists predicted a rise of 0.4 per cent.

Department stores were the biggest losers, with spending falling by 1.3 per cent seasonally adjusted, while grocery sales slipped slightly.

Sales were bolstered by purchases in household items, which rose 1 per cent, and clothing and footwear which edged 0.1 per cent higher, both seasonally adjusted.

Retail trade was also bolstered as more people went out to restaurants and cafes for meals.

Retail sales rose across all states in January except Victoria, where it remained flat.

Sales rose 0.5 per cent in New South Wales, 0.3 per cent in Queensland, 0.4 per cent in South Australia, and 1 per cent in Tasmania.

AustraliaPlus

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Post-Christmas sales spending less than forecast

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