Your 10-second guide to today's Australian retail sales report

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This morning the ABS will release its retail sales report for November, something that will be scrutinised closely given recent strengthening in consumer confidence.

Here’s the state of play.

  • Retail rose 0.5% to $24.66 billion in October, meeting expectations. It was the highest monthly figure on record.
  • The increase left the annual pace of sales at 3.9*%, up 0.2% on September.
  • Over the past year, household goods recorded the fastest increase in sales at 6.1%. Rounding off the top three, department store sales rose 5.2% while those for clothing, footwear and personal accessories increased 4.7%.
  • “Other” retailing recorded the slowest annual growth at 2.8% while food retailing, the largest component of all retail spending, increased by a benign 3.2%.
  • On an annualised basis, Victoria and Tasmania recorded the largest increase in sales at 5.4% while New South Wales, the most populous state, saw sales increase 4.4%.
  • Unsurprisingly, the mining states and territories recorded the lowest annual increase in sales, ranging from between 1.6% to 2.7% respectively.
  • Economists expect sales to moderate slightly in November, predicting an increase of 0.4%.
  • The separate NAB Australia online retail sales index increased by 0.7% in November, suggesting that there may be upside risks attached to the 0.4% increase expected today.

The ABS report will be released at 11.30am AEDT. Business Insider will have full coverage as soon as the data drops.

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