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Watch: Retail sales rebound in October

Retail sales rebound in October

CommSec analyses the latest retail sales figures indicating a boost in consumer spending.

Retail sales were their strongest in five months as spending rose across all states and territories in Australia, according to the latest Australian Bureau of Statistics (ABS) figures.

CommSec Senior Economist Ryan Felsman said the gains were led by footwear and other personal accessories, along with cafes, restaurants and catering services seeing better business.

Retailers have been under significant pressure this year given aggressive discounting and intense global competition, while consumers have benefited from falling prices, Felsman explains.

Watch CommSec’s detailed analysis of the latest data.

This article is intended to provide general information of an educational nature only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice. Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814 (CommSec) is a wholly owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 and a Participant of the ASX Group and Chi-X Australia.