Australian retail turnover remained unchanged in July, following consecutive growth of 0.5% in both May and June, latest ABS figures showed.
Ben Dorber, ABS head of retail statistics, noted, “After rises in the past two months boosted by mid-year sales activity, the higher level of retail turnover was maintained in July.”
Turnover varied across sectors, with declines in clothing, footwear, and personal accessories (-0.5%), department stores (-0.4%), and cafes and restaurants (-0.2%).
“The fall in turnover for clothing and footwear retailers and department stores came after higher spending during recent mid-year sales events,” Dorber said.
Household goods and other retailing saw no change.
The only industry to experience growth was food retailing, which rose by 0.2% in July, ABS reported.
The slight increase was the exception in an otherwise steady retail market, reflecting stable consumer demand in essential goods amidst a more cautious spending environment.
For more details, read Retail Trade, Australia, July 2024. The ABS media release can be found here.
Get the hottest and freshest mortgage news delivered right into your inbox. Subscribe now to our FREE daily newsletter.
