Australia Retail Sales Mom

Retail sales in Australia edged up 0.1% mom in September 2024, missing market forecasts of 0.3% and sharply slowing from a 0.7% growth in the previous month as a boost from warmer weather in August waned. Turnover rose mostly for household goods retailing (0.5% vs -0.4% in August), and cafes, restaurants, and takeaway food (0.4% vs 1.0%). Meanwhile, other retailing stagnated after increasing 1.3% previously. At the same time, sales fell for food retailing (-0.1% vs 0.5%), clothing, footwear, personal accessories (-0.1% vs 1.6%), and department stores (-0.5% vs 1.8%). Geographical-wise, sales rose in New South Wales (0.2%), South Australia (0.1%), and Western Australia (0.1%) but stalled in Queensland. Simultaneously, trade fell in Victoria (-0.1%), Tasmania (-0.3%), Northern Territory (-0.7%), and Australian Capital Territory (-0.1%). Through the year to September, retail trade grew by 2.3%, the least in four months, after a 3.1% rise in August.