Black Friday drives Australias November retail sales to record the largest increase in 10 months

According to Sina Finance: FX678
Australia's retail sales in November saw the largest increase in 10 months, as the "Black Friday" discount event attracted cost conscious shoppers. However, even so, retail sales did not meet expectations, indicating that consumer demand remains sluggish.
Analysts also suspect that this is simply due to early additional demand for Christmas. This data is unlikely to be seen as an obstacle to interest rate cuts, as the market is betting that the Reserve Bank of Australia may relax policy in February.
The data released by the Australian Bureau of Statistics (ABS) on Thursday showed that retail sales in November increased by 0.8% compared to October, with a revised increase of 0.5% in October. Analysts previously estimated retail sales to increase by 1.0% in November. Affected by this data, the Australian dollar fell by 0.3% to 0.6197 US dollars at one point.
Retail sales increased by 3.0% compared to the same period last year, reaching AUD 37.1 billion. The Australian Bureau of Statistics pointed out that promotional activities now extend throughout November, not just the Black Friday weekend.
Sales in department stores increased by 1.8% in November, while expenses in cafes and restaurants increased by 1.5%.
Ben Udy, Chief Economist of Oxford Economics Australia, said, "The continued popularity of Black Friday promotions in Australia means that the seasonal adjustments of the Australian Bureau of Statistics cannot effectively capture the momentum of strong seasonal growth. This makes it extremely difficult to understand the potential strength of consumption from these data, as strong growth may be offset by sales contraction in December
The slowdown in inflation and significant reduction in income tax have to some extent boosted sales prospects. However, the rebound in consumer spending so far has been disappointing, which is also one of the reasons why the Reserve Bank of Australia unexpectedly turned dovish last month.