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.