Retail trade rose by a decent 0.5% in October, which bettered market expectations that were centred on a rise of 0.4%{CBA(f) 0.5%}. The lift in sales follows an upwardly revised increase of 0.9% over September (previously 0.8%). Consumerspending has picked up over the last three months and annual growth in retail trade has lifted to 3.6% – just above its fiveyearaverage.
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Commonwealth Bank