Economists not sold on 0.9% rise for September retail sales

30 October 2023

 

Summary: Retail sales up 0.9% in September, considerably greater than expected; up 2.0% on 12-month basis; Westpac: represents sizeable decline accounting for impact of inflation, population growth; ACGB yields rise; rate-rise expectations firm; ANZ: underlying weakness in retail sector right now; largest influence on result from food sales. Growth figures of domestic retail sales spent most of the 2010s at levels below the post-1992 average. While economic conditions had been...

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