Retail sales in Australia rose 1.4 percent on the month in November after advancing 0.4 percent in October, while year-over-year growth slowed from 12.0 to 7.7 percent. Growth in October was revised sharply as a result of revisions to the method used to produce seasonally adjusted estimates due to the impact of the Covid-19 pandemic.

Sales rose on the month at close to the national average in all of Australia's states and territories. Sales rose particularly sharply for department stores and for clothing and household goods but were close to flat for food retailing and cafes and restaurants.

Retail sales are expected to rise 0.7 percent in November after falling 0.2 percent in October which was the first decline of 2022.

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.