The Australian Bureau of Statistics has just released the retail sales data for December which has printed stronger than the market expected with a rise of 0.5% in seasonally adjusted terms.
This is a solid number and continues the strong data we have seen over the last quarter of 2013 for retail sales with October and November growing 0.5% and 0.7% respectively. The ABS reported the quarterly rise of 0.9% over the September quarter 2013.
It is really interesting to see the festive season impact on the data with food retailing, cafes and restaurants and department stores sales all rising.
Regardless of how you cut it, this data speaks of an Australian economy and Australian consumers that are on a much more solid footing than just 6 months ago.
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