Monday, April 22, 2024

Retail turnover unchanged in July

Australian retail turnover was relatively unchanged in July 2016, seasonally adjusted, according to the latest Australian Bureau of Statistics retail trade figures.

This follows a rise of 0.1 per cent in June 2016.

Australian Retailers Association Executive Director Russell Zimmerman says the relatively unchanged figure is an indication that consumers were still reluctant to spend, with many possibly still left reeling from economic and world concerns such as the close results of the federal election the month prior, and the Brexit vote.

“There are many factors that feed into this result, with economic uncertainty and low consumer confidence chief among these,” he said.

“By July, mid-season sales have also slowed down, with many retail businesses having focused their discounting activities in June in an effort to prop up sales in the face of unseasonably warm winter temperatures.”

In seasonally adjusted terms, there were rises in food retailing (0.7 per cent), cafés, restaurants and takeaway food services (1.2 per cent), other retailing (0.2 per cent) and clothing, footwear and personal accessory retailing (0.3 per cent). There were falls in department stores (6.2 per cent) and household goods retailing (0.7 per cent) in July 2016.

In seasonally adjusted terms, there were rises in Queensland (0.5 per cent), South Australia (0.5 per cent), Western Australia (0.3 per cent), the ACT (1.2 per cent), Tasmania (0.5 per cent) and the Northern Territory (0.4 per cent). There were falls in Victoria (0.6 per cent) and NSW (0.2 per cent).

The trend estimate for Australian retail turnover rose 0.1 per cent in July 2016 following an 0.1 per cent rise in June 2016. Compared to July 2015, the trend estimate rose 2.7 per cent.

Online retail turnover contributed 3.1 per cent to total retail turnover in original terms. Compared to July 2015, online retail rose 4.1 per cent.

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