Economics
iPhone Frenzy Helps Australia Retail Sales Jump Most Since 2013
Photographer: Saeed Khan/AFP via Getty Images
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Australian retail sales jumped the most in almost five years in November, driven by a binge on IPhone purchases and Black Friday sales.
Sales climbed by 1.2 percent from the previous month, triple the estimate of economists and the biggest leap since February 2013, data showed Thursday. The spike included a 9.3 percent surge in electronic goods sales spurred by the iPhone X release, according to the Australian Bureau of Statistics.