|Month over Month||0.4%||0.2%||0.1%|
|Year over Year||4.1%||5.0%|
December retail trade was up 0.2 percent on the month after edging 0.1 percent higher in November. On the year, retail trade was up 4.1 percent after increasing 5.0 percent in November.
The largest contributor to the increase was clothing, footwear & personal accessory retailing (2.7 percent). Food retailing (0.3 percent) was the only other industry to increase in December. Other retailing and cafes, restaurants & takeaway food services were virtually unchanged while household goods retailing (down 0.4 percent) and department stores (down 0.9 percent) declined.
Trade increased in Queensland (0.6 percent), New South Wales (0.2 percent), Western Australia (0.5 percent) and the Australian Capital Territory (0.4 percent). Victoria was relatively unchanged while there were declines in South Australia (down 0.4 percent), Tasmania (down 1.3 percent) and the Northern Territory (down 0.1 percent.).
In volume terms, retail trade was up 1.5 percent in the December quarter following an increase of 0.9 percent in the September quarter.
Retail sales measure the total receipts at stores that sell durable and nondurable goods. The Retail Business Survey covers all employing retail trade businesses who predominantly sell to households.
With consumer spending a large part of the economy, market players continually monitor spending patterns. The pattern in consumer spending is often the foremost influence on stock and bond markets. For stocks, strong economic growth translates to healthy corporate profits and higher stock prices. For bonds, the focus is whether economic growth goes overboard and leads to inflation. Ideally, the economy walks that fine line between strong growth and excessive (inflationary) growth.
Retail sales not only give you a sense of the overall picture, but also the trends among different types of retailers. Especially strong apparel or electronics sales can indicate strength in those industries, for example. These trends from the retail sales data can help you spot specific investment opportunities, without having to wait for a company's quarterly or annual report.
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