SYDNEY, Jan 9 Reuters Australian retail sales surged in November as shoppers feasted on Black Friday bargains, though analysts suspect spending was merely borrowed from the future and the gains will reverse in December.

Data from the Australian Bureau of Statistics ABS out on Tuesday showed retail sales jumped 2.0 on a seasonally adjusted basis in November, rebounding from a revised 0.4 dip in October and above market forecasts of a 1.2 increase.

Sales of A36.51 billion 24.54 billion were up 2.2 from a year earlier, which was a sluggish result historically especially given the country39;s rapid population growth.

Reporting by Wayne Cole; Editing by Christian Schmollinger

Source Reuters