A post-New Year splurge has lifted Australian retail sales in January, continuing a rise from a pre-Christmas funk.
Australian Bureau of Statistics data showed retail sales rose a seasonally adjusted 0.4 per cent in January to $23.88 billion.
The figure was in line with expectations, with economists surveyed by Bloomberg forecasting retail sales would increase 0.4 per cent in the month.
The January result follows a seasonally adjusted rise of 0.2 per cent in December to $23.81bn, just above November's low growth of 0.1 per cent.
Department store spending led the charge in January, with turnover increasing by 2.2 per cent in the month. Spending at cafes, restaurants and takeaway services also lifted sales, increasing 2 per cent.
But retail food spending experienced a slight dip in the month, dropping 0.7 per cent, and footwear and personal accessory retailing decreased 0.1 per cent.
Online retail turnover made up 2.8 per cent of the total sales, in original terms, the bureau said.
Source : MarketsSpectator