Australian retail sales data for November of 2018
0.4 % m/m for a beat!
- expected 0.3%, prior 0.3%
- y/y +3.6% (ABS 'trend' y/y)
I thought that if anything it might have surprised to the downside. Wrong. AUD response suggest I wasn't alone., its up a few tics on the release, above 0.7200 as I update. … later update, back under 0.72.
ABS noting a positive impact from 'Black Friday' sales (yeah, that's a thing in Australia now too!). If you are a bit inclined that way this is a reason to suggest there may be a 'pay back' in the December data because of spending that was dragged forward into November.
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For background, preview posted here yesterday:
