Thursday, April 25, 2024

Retail’s steady growth in October

The Australian Bureau of Statistics has released its monthly retail growth results for October, showing a steady rise in retail of 3.5 per cent – seasonally adjusted (year on year) – in October 2016.

Victoria (up 3.36 per cent), NSW (3.75 per cent) and Queensland (4.51 per cent) remain steady, while the ACT has recorded eight per cent growth year on year.

“In line with our predicted total shopping spend of more than $48.1 billion over the Christmas trading period, this year looks set to be a cheerful one for shoppers and retailers alike,” Australian Retailers Association Executive Director Russell Zimmerman said.

In seasonally adjusted terms, there were rises in food retailing (0.6 per cent), household goods retailing (0.7 per cent), other retailing (0.8 per cent) and cafes, restaurants and takeaway food services (0.4 per cent). There were falls in clothing, footwear and personal-accessory retailing (0.4 per cent) and department stores (0.4 per cent) in October 2016.

The trend estimate for Australian retail turnover rose 0.4 per cent in October 2016 following a 0.4 per cent rise in September 2016. Compared with October 2015, the trend estimate rose 3.3 per cent.

Online retail turnover contributed 3.9 per cent to total retail turnover in original terms.

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