Australian Bureau of Statistics credits Apple's iPhone 6 for stoking retail surge
Following an anemic 0.1 percent rise in August, Australia's Bureau of Statistics reported that retail turnover lept to 1.2 percent growth in September, crediting Apple's iPhone 6 launch for driving the unexpected growth.
"This figure was influenced by the release of the iPhone 6 during the month," ABS reported, as noted in an ABC.net.au article tweeted by @BDASPresident.
"The increase in electrical and electronic goods retailing represents about half of the total Australian sales movement of 1.2 percent in seasonally adjusted terms," of which nearly half (0.5 percentage points) were attributed to electronics.
A Reuters survey of analyst forecasts had predicted a 0.4 percent total increase, indicating more positive results than expected for both iPhone sales and the broader economy.
The report added that in September, "electronic and consumer appliance store sales jumped 3.4 percent while clothing sales fell 1.2 percent," leading Feroli to conclude, "people are buying iPhones, partly as a status symbol. They're not buying as much clothing."
Apple's rising stock is also having an impact on the U.S economy. Paul Hickey, co-founder of the Bespoke Investment Group was cited as calculating that "Apple accounted for 18 percent of the entire rise of the S.&P. 500 index this year."
"This figure was influenced by the release of the iPhone 6 during the month," ABS reported, as noted in an ABC.net.au article tweeted by @BDASPresident.
"The increase in electrical and electronic goods retailing represents about half of the total Australian sales movement of 1.2 percent in seasonally adjusted terms," of which nearly half (0.5 percentage points) were attributed to electronics.
A Reuters survey of analyst forecasts had predicted a 0.4 percent total increase, indicating more positive results than expected for both iPhone sales and the broader economy.
iPhone also driving the U.S. economy
Last week, the New York Times cited Michael Feroli, chief United States economist for JPMorgan Chase, as estimating that "iPhone sales are adding one-quarter to one-third of a percentage point to the annualized growth rate of the gross domestic product."The report added that in September, "electronic and consumer appliance store sales jumped 3.4 percent while clothing sales fell 1.2 percent," leading Feroli to conclude, "people are buying iPhones, partly as a status symbol. They're not buying as much clothing."
Apple's rising stock is also having an impact on the U.S economy. Paul Hickey, co-founder of the Bespoke Investment Group was cited as calculating that "Apple accounted for 18 percent of the entire rise of the S.&P. 500 index this year."
Comments
I think that it's fairly safe to assume that you have a smoking hot product if a phone can significantly boost an entire country's retail sales." src="http://forums-files.appleinsider.com/images/smilies//lol.gif" />
To me, it shows the economic error of policies that try to "boost demand." You don't need to boost demand, you need to boost supply, of cool stuff, then people will buy it. In the absence of cool stuff you can adjust all the economic levers you like and people will just keep their money in the bank.
I think that it's fairly safe to assume that you have a smoking hot product if a phone can significantly boost an entire country's retail sales.
Or, you have a teeny tiny country, certainly one of the two anyway.
I wonder how long CSV and Rite Aid will be able to hold out.
Not so.
I said that there was no hard proof that the 6 had made any profit for Apple. Unless Apple decide to break down iPhone numbers, we'll never know. No doubt the iPhone as a whole will make a mountain of profit.
"Lept" sounds good to me, but then I don't know if you fiind it much in our current shrunken vocabulary.
Maybe you're making some sort of joke . . .
It's "leapt".
http://grammarist.com/spelling/leaped-leapt/
Not only Downunder and in the US, Same in GB and China.
Mr. Libertarian wants to outlaw the earlier, clearer spelling, the one that parallels other past-tense formations like "slept"? Ok, fine, continue the confusion that's led to people misspelling the past tense of "lead," as in -a horse to water, as lead, pronounced like the metal.
That's an authoritarian, narrowly focused site you linked to. Look up "lept" in the Merriam-Webster Second International. Surely you have one handy.
Are you offended by modern English? I didn't create it, I just use it.
1) Do you have a link because it's spelled leapt in every dictionary I checked.
2) Language is about communication. I doubt [@]SpamSandwich[/@] has any problem with AI using any term no matter if it's new or archaic, but for the sake of communication shouldn't they noat when they use something atypical?
I am traveling in NYC...I am astounded by the number of 6s & 6+s on the street in the nahds of consumers and all Apple Stores are hopping. No big surprise ro me.
Yes, NYC has tons of Apple users.
I do occasionally run into people using Android phones when I am in a seedy neighborhood or on a bad subway line. I would also imagine that the local EBT office has a 99% usage rate of Android phones by the fine people who visit those joints.
Mr. Libertarian wants to outlaw the earlier, clearer spelling, the one that parallels other past-tense formations like "slept"? Ok, fine, continue the confusion that's led to people misspelling the past tense of "lead," as in -a horse to water, as lead, pronounced like the metal.
That's an authoritarian, narrowly focused site you linked to. Look up "lept" in the Merriam-Webster Second International. Surely you have one handy.
What's wrong with libertarians? It sure beats being a liberal.
You're the odd man out.
You're the odd man out.
Not at all, because those text book definitions do not apply to real life and how things actually are at all.
Right, those are definitions, but they are definitions for a reason. If you have unique definitions for common terms feel free to express them, but you can't simply use a term with your personalized definition and expect the world to know what you mean. Please, educate us.