AUSTRALIA

Retail Sales Soar: The figure grew by an adjusted 2.1% in November, the largest increase in two years, confirming economists’ belief that Australia’s three-year economic slump may be at an end. The retail sales growth was more than 10 times the 0.2% gain analysts had forecast. “These are wonderful numbers for the economy,” said Chris Caton, chief economist with Bankers Trust Australia. “Consumers are spending again, labor market indicators are favorable, business sector confidence is recovering, exports are still strong. We’re on our way again.”