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Australia October Retail Sales Rise 0.5%


The total value of retail sales in Australia added a seasonally adjusted 0.5 percent in October compared to the previous month, the Australian Bureau of Statistics said on Tuesday - coming in at A$22.284 billion.

The headline figure topped estimates for a gain of 0.4 percent but was down from the upwardly revised 0.9 percent in September (originally 0.8 percent).

By category, food retailing was up 0.4 percent, followed by cafes, restaurants and takeaway food services (0.6 percent), clothing, footwear and personal accessory retailing (1.0 percent), department stores (0.8 percent), other retailing (0.3 percent) and household goods retailing (0.1 percent).

By region, sales in Victoria added 0.6 percent, followed by New South Wales (0.5 percent), Queensland (0.4 percent), South Australia (0.4 percent), Western Australia (0.1 percent), Tasmania (0.9 percent), the Northern Territory (0.8 percent) and the Australian Capital Territory (0.4 percent).

Also on Tuesday, the ABS said that Australia saw a current account deficit of A$12.710 billion in the third quarter of 2013.

That missed forecasts for a shortfall of A$11.5 billion following the revised deficit of A$12.091 billion in the second quarter (originally reported as a deficit of A$9.4 billion).

Exports of goods and services climbed A$2.537 billion (3 percent), while imports of goods and services added A$2.448 billion (3 percent).

The primary income deficit jumped A$706 million (8 percent).

The net goods and services surplus surged A$2.867 billion (51 percent) to A$8.486 billion in the third quarter.

This is expected to contribute 0.70 percentage points to growth in Q3 GDP - topping forecasts for 0.35 points following the loss of 0.04 points in the previous three months.

Australia's net IIP liability position was A$854.9 billion in Q3, an increase of A$42.9 billion from the previous quarter.

Australia's net foreign debt liability increased A$36.2 billion to a liability position of A$829.1 billion. Australia's net foreign equity liability increased A$6.6 billion to a liability position of A$25.8 billion.

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