Oct Australian retail sales beats expectations

Australia's Oct retail sales came at +0.5% vs 0.3% exp and 0.6% last. A positive input for the Aussie. 

OCTOBER KEY POINTS

The trend estimate rose 0.4% in October 2016. This follows a rise of 0.4% in September 2016 and a rise of 0.3% in August 2016.

The seasonally adjusted estimate rose 0.5% in October 2016. This follows a rise of 0.6% in September 2016 and a rise of 0.6% in August 2016.

In trend terms, Australian turnover rose 3.3% in October 2016 compared with October 2015.

The following industries rose in trend terms in October 2016: Food retailing (0.4%), Household goods retailing (0.7%), Cafes, restaurants and takeaway food services (0.8%) and Other retailing (0.1%). Department stores (-0.2%) and Clothing, footwear and personal accessory retailing (-0.1%) fell in trend terms in October 2016.

The following states and territories rose in trend terms in October 2016: Queensland (0.7%), New South Wales (0.3%), Victoria (0.4%), South Australia (0.2%), the Australian Capital Territory (0.6%), Western Australia (0.1%), Tasmania (0.2%) and the Northern Territory (0.2%).