AUSTRALIAN RETAIL SALES SURGED A HUGE 1.2% IN SEPTEMBER, iPHONE 6 A FACTOR

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Australian retail sales rose a seasonally adjusted 1.2% in September, a huge beat on market expectations of a 0.4% rise.

Stunningly, the ABS mentions the iPhone 6 launch in its release, because electrical good rose 9.2% in September. “This figure was influenced by the release of the iPhone 6 during the month,” the ABS said. It’s extraordinary because the ABS would usually never mention specific products in its retail data releases.

Cafes, restaurants and takeaways – a key measure of consumers’ enthusiasm for discretionary spending – rose 0.6%.

Other key numbers: were that the trend estimate rose 0.3% in September 2014.

The seasonally adjusted increase of 1.2% in September 2014 follows a rise of 0.1% in August.

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