Separate report, on Trade Balance showed that in trend terms, the balance on goods and services was a deficit of $476m in December 2017, an increase of $313m on the deficit in November 2017. In seasonally adjusted terms, the balance on goods and services was a deficit of $1,358m in December 2017, a turnaround of $1,394m on the surplus in November 2017. In seasonally adjusted terms, goods and services credits rose $510m (2%) to $32,465m. Non-rural goods rose $719m (4%). In seasonally adjusted terms, goods and services debits rose $1,905m (6%) to $33,823m.
Australian Retail Sales fell sharply in December
- Tuesday, Feb 06 2018
Australia’s December retail sales report has come in well under expectations, partially reversing a strong lift in November. According to the Australian Bureau of Statistics (ABS), sales fell by 0.5% to $ 26.261 billion in seasonally adjusted terms, missing forecasts for a smaller decline of 0.2%. Offsetting some of the weakness, November’s stellar gain of 1.2% was revised higher to show an increase of 1.3%. With sales retracing during the month, the annual pace of sales slowed to 2.5% from 2.9% in November.