Consumer spending is past its weakest point but still subdued, despite a spike in activity from annual promotions in November.

Retail sales rose across all sectors in November, prompting fresh fear that the Reserve Bank may pause any pending interest rate cuts.Australian retail turnover rose 0.8% for the month, according to figures released on Thursday morning by the Australian Bureau of Statistics (ABS).

Black Friday spending helped lift retail sales in late 2024 but overall sales in the final quarter of last year proved disappointing, the British Retail Consortium said on Tuesday.

“Black Friday sales events proved once again to be a big hit, with widespread discounting and higher spending across all retail industries,” ABS head of business statistics Robert Ewing said.

The Australian retail sector witnessed an uptick in November 2024, with the Australian Bureau of Statistics (ABS) reporting a seasonally adjusted increase of 0.8% in turnover. The rise follows consecutive growth of 0.

Australian retail sales had the biggest increase in 10 months in November as Black Friday discounting drew cost-conscious shoppers, but the rise missed forecasts suggesting the boost poses no impediment to rate cuts.

Australian Retailers Association's Chief Industry Officer Fleur Brown says Black Friday sales were a “big winner” for retail sales last year.