sydneyaustralian retail sales sank in december as the rapid spread of the covid19 omicron variant kept many people at home retail turnover fell a seasonallyadjusted 44 in december from november according to the australian bureau of statistics it was the biggest monthly fall since april 2020 economists expected a fall of 20 for the month the data fits with reports of falling consumer confidence and credit card spending in december a crucial period for store owners banking on christmas sales omicron has produced a big escalation in covid19 cases and reported deaths with state governments choosing not to lockdown businesses as they did in the third quarter to combat the delta variant but even in the absence of restrictions on personal movement and lockdowns of stores many individuals chose to remain isolated at home in december replicating lockdown conditions to reduce the risk of getting covid the weak sales data might temper money markets bets that the reserve bank of australia will raise interest rates by may the rba will update its policy guidance at 0330 gmt victoria recorded the largest fall in retail sales of any state or territory down 84 for the month this partly unwound the states strong rise in november when sales rose to a record level