FXStreet (Mumbai) – Retail sales rose 1.7% in November to $44.3 billion, up from 0.1 per cent seen previously. Higher sales at new car dealers were the main contributor to the gain. With the exception of gasoline stations, all subsectors showed an increase in sales, representing 90% of retail trade. In volume terms, retail sales were up 1.5%.
Motor vehicle and parts dealers (+3.5%) recorded the largest gain in dollar terms across all subsectors. Sales at new car dealers (+4.5%) were up for the fifth consecutive month.
Higher receipts at food and beverage stores (+1.5%) were mainly due to higher volumes, as food prices were unchanged in November. Gains were reported at supermarkets and other grocery stores (+1.7%). Sales at convenience stores (+1.8%) and beer, wine and liquor stores (+0.4%) did not offset the declines recorded in October. Specialty food stores sales (+1.5%) were up for the third consecutive month.
(Market News Provided by FXstreet)