• Retail spending grew by just 0.3 per cent in September, below expectations centred on a rise of 0.4 per cent. Non-food retailing rose by 0.4 per cent – the slowest growth in four months.
• In the September quarter, inflation-adjusted retail trade rose by 0.7 per cent (below forecasts for 1.1 per cent growth). The measure of retail prices rose by 0.7 per cent in the quarter. Prices fell in 4 of the 15 detailed sectors.
• Aussies spent up big on sporting goods in the September quarter and flocked to cafes and restaurants. But spending was down across almost half the retail categories, with specialised food outlets like butchers and seafood stores worst affected together with hardware, footwear, newsagents and clothing stores.
• Australia’s trade surplus narrowed from $2,446 million to $1,760 million in September. Economists had tipped a surplus near $1.9 billion. Exports fell by 1.5 per with imports up by 1.4 per cent.
• New car sales in October were up just 0.1 per cent on a year ago with 80,925 passenger cars sold in the month. Sales of 4WD vehicles continue to soar up 22.9 per cent on a year ago.

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• Petrol prices have risen for the first time in five weeks. The Australian Institute of Petroleum reports that the average Australian petrol price rose by 3.6 cents a litre last week – the biggest weekly price gain in seven months. The national pump price stands at a 3-week high of 122.7 cents a litre.
• While pump prices rose sharply last week as massive discounts ended, the good news is that the wholesale price continues to fall, hitting a 10-month low.
• The Reserve Bank Governor has delivered a talk: “Monetary Policy and the Regions”. The key point the Governor wanted to get across is that the Reserve Bank is listening – alert to the needs, concerns and differences across the country.

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• Chinese trade surplus eases as imports surge. China recorded a trade surplus of US$20.03 billion in August – below forecasts centred on a result near US$26.9 billion. Exports were up 34.4 per cent on a year ago (consensus +35.0 per cent) and imports were up 35.2 per cent (consensus +27.5 per cent).
• Chinese property prices slow. Urban property prices rose by 9.3 per cent in the year to August, down from 10.3 per cent in the year to July and the 12.8 per cent peak in April.
• Mobile phone shipments (in effect, sales) sales have slumped due to seasonality factors. However a more smooth measure of activity would be a comparison of mobile phone shipments with the same period last year, which shows sales are down 9.5 per cent on a year earlier.

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