Australia: Expect a 0.3% gain in Nov retail trade - Westpac

Analysts at Westpac, note that Australian retail sales posted a slightly better than expected result for Oct with a 0.5% gain and previous months revised up slightly and despite this, sales still show a significant slowing with annual growth falling to 1.8%yr from 3.7% in June.

Key Quotes

“Consumer sentiment recovered somewhat through Q4 with pressures on family finances easing. Risk aversion remained elevated though with Christmas spending plans also subdued. Private sector business surveys suggest the modest improvement in retail in October carried into November. We expect a 0.3% gain.”