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Retail Sales in November were at their most brisk in five years fueled by Black Friday sales and the launch of the new Apple iPhone8 and iPhoneX. The surge in full time jobs and consumer confidence proved a boon for Apple. Consumer spending is now on track for a strong December quarter GDP contribution.

Apple Sydney StoreThe Apple Store in Sydney fostered a surge in retail sales through iPhone X Sales

The Australian dollar caught a solid bid on the report but is tempered by the novelty factor and traders will be looking for sustained wage growth and consumer growth. The $AUDUSD rose about 30 pips to .7876 on the report.

Australian November 2017 Retails Sales

  • +1.2 % m/m v. expected +0.4% m/m, prior +0.5%
  • Annually up 2.9%
  • Electronic goods + 9.3% spurred by the iPhone X release
  • Clothing, footwear and personal accessory retailing +1.6 per cent
  • Cafes, restaurants and takeaways +0.4 per cent
  • Food was unchanged 
  • Department stores fell -1.1 per cent

Australian Bureau of Statistics headline 'Black Friday & iPhone X sales drivers' 

"Seasonally adjusted sales in both these industries are influenced by the release of the iPhone X and the increasing popularity of promotions in November, including Black Friday sales."

Source: ABS

From a sunburnt country ....

 

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