Retail turnover holds steady
Australian retail turnover was unchanged in July 2024, according to seasonally adjusted figures released today by the Australian Bureau of Statistics (ABS).
This followed growth of 0.5 per cent in June 2024 and 0.5 per cent in May 2024.
Ben Dorber, ABS head of retail statistics, said: “After rises in the past two months boosted by mid-year sales activity, the higher level of retail turnover was maintained in July.”
Trend estimates from March 2020 to June 2022 are not available due to the degree of disruption and volatility caused by COVID-19. Trend estimates throughout the pandemic period are likely to be unhelpful and potentially misleading for users in interpreting underlying trend in retail activity.
Turnover results were mixed across the industries with most recording a fall or flat result following rises in June.
Clothing, footwear and personal accessory retailing (-0.5 per cent) had the largest fall, followed by department stores (-0.4 per cent) and cafes, restaurants and takeaway food services (-0.2 per cent).
Household goods retailing and other retailing were both unchanged (0.0 per cent).
“The fall in turnover for clothing and footwear retailers and department stores came after higher spending during recent mid-years sales events. Household goods retailers held onto large gains in turnover in recent months,” Mr Dorber said.
The only industry that had a rise in July was food retailing (0.2 per cent).
Retail turnover growth was mixed across the country with four states and territories seeing a rise while the remaining four fell.
“Western Australia continues to be the standout of the states and territories, having risen for the seventh consecutive month, up 4.6 per cent compared to July 2023,” Mr Dorber said.
The ABS would like to thank businesses for their continued support in responding to our surveys.
Media notes
- Revisions to seasonally adjusted estimates are due to concurrent methodology, which reflects improvements in the data as changes in the seasonal pattern become clearer and distinct from irregular events. For further information, please refer to the article released in November explaining the effect of changes in the seasonality of retail turnover and the seasonality in retail turnover section of survey impacts and changes.
- Seasonal adjustment is the process of estimating and removing seasonal effects to allow comparison of data for adjacent months. See methodology for more details.
- The trend series attempts to measure underlying behaviour in retail activity. It is recommended that trend estimates be used alongside the seasonally adjusted headline measure to analyse and understand underlying activity in retail spending over the longer term. See methodology for more details on trend estimates.
- A media statement on Thursday 23 November 2023 announced that the ABS would be ceasing the publication of Retail Trade, Australia in July 2025. For more information, please visit the Future cessation of the Retail Business Survey and Retail Trade Publication webpage
- When reporting ABS data you must attribute the Australian Bureau of Statistics (or the ABS) as the source.
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