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Oz September Retail Sales Better Than Expected

Australian retail sales slumped by only 1.1% for September 2020, 0.4% better than expected in the preliminary data provided by the ABS.

In August, retail sales fell by 4% on a seasonally-adjusted basis and economists had been forecasting a 1.5% decline for September.

Overall, turnover rose by 5.6% for the same month last year and the seasonally-adjusted estimate for turnover rose 6.5% for the September quarter.

Household goods retailing fell 3.6% in September, in seasonally adjusted terms.

And by industry cate, the seasonally adjusted estimate fell 7.4% for electrical and electronic goods retailing, fell by 2.2% for furniture, floor coverings, houseware and textile goods retailing and declined by 0.5% for hardware, building and garden supplies retailing.

Every Australian state saw a decline in monthly retail turnover, while the Northern Territory enjoyed a 4.3% jump.

Meanwhile, online sales had a boost during the COVID-19 period, with it accounting for 10.6% of all retail sales for the month of September.

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