Australia retail sales dropped -4.4% mom in December to AUD 31.93B. For Q4, sales rose 8.2%, fastest on record.
Ben James, Director of Quarterly Economy Wide Statistics, said: “Consumers enthusiastically returned to discretionary spending following the end of Delta related lockdowns in October, and the continued easing of restrictions over the quarter. Well publicised concerns over product availability and delivery timeliness led to consumers bringing forward their end of year shopping, in conjunction with a re-opening spending splurge due to pent up consumer demand.”
“This post lockdown recovery aligns well with the previous nationwide Covid lockdown recovery in the September quarter 2020 where sales rose 6.3 per cent, more than recovering the losses of the June 2020 quarter fall of 3.5 per cent”.
