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Retail trade figures hold steady

 

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Australian retail turnover in July was unchanged according to the latest figures from the Australian Bureau of Statistics, (ABS) and follows a rise of 0.2 per cent in June.

In seasonally adjusted terms there were falls in household goods retailing, down 1.7 per cent and department stores, down 2.8 per cent. “The falls in household goods retailing and department stores comes after strong rises in the June quarter,” ABS director of Quarterly Economy Wide surveys, Ben James said.

The trend estimate for total retail turnover rose 0.3 per cent in July, following a 0.4 per cent rise in June. Compared to July 2016, the trend estimate rose 3.5 per cent, with online retail turnover contributing 4.3 per cent to total retail turnover in original terms.

The news was more positive when it came to year-on-year retail growth for the year ending July 2017 with household goods retailing up 4.6 per cent and department stores recording a 1.2 per cent rise.

Australian Retailers Association executive director, Russell Zimmerman said the July figures were a positive sign leading into the warmer months.

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“Year-on-year growth remains strong for the retail industry with household goods, especially hardware, with a 5.02 per cent increase driving the figures,” he said. “With the end of deep discounting after the closure of Masters, the continued growth in the sector as sales begin to normalise is a good sign for the retail industry as a whole.”

All states recorded year-on-year growth with Victoria then New South Wales leading the pack while the ACT, Tasmania and South Australia recorded moderate increases. The Northern Territory, Queensland and South Australia showed gradual year-on-year sales growth.

This story originally appeared on Appliance Retailer.

 

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