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Australia retail sales flat in Nov, rate cut looms – Retail in Asia

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Australia retail sales flat in Nov, rate cut looms

A flood of Australian data on Monday showed a disappointingly flat month for retail sales, lacklustre labour demand and tame inflation, a combination that only added to expectations for a cut in interest rates this week.

Data from the Australian Bureau of Statistics showed retail sales were unchanged in October at AUD21.6 billion (USD22.5b) as consumers cut spending on household goods. Analysts had looked for a rise of 0.4 percent and the soft result knocked the local dollar down a quarter of a cent.