November Sees Slight Rise In Retail Spending
The November figures follow a 0.4 per cent rise in October, while the launch of the iPhone 6 helped contribute to a 1.2 per cent rise in September.
Households goods retailing rose a seasonally adjusted 0.6 per cent, within which the seasonally adjusted estimate for electrical and electronic goods retailing fell 0.9 per cent, while department stores remained relatively unchanged.
Seasonally adjusted, Victoria (0.4 per cent), South Australia (0.4 per cent), the Australian Capital Territory (1.3 per cent), Tasmania (1.1 per cent), the Northern Territory (1.6 per cent) and Queensland (0.1 per cent) recorded rises in November, while New South Wales recorded a 0.2 per cent fall and Western Australia a 0.1 per cent fall.
The Australian Retailers Association (ARA) noted, that while November’s month-on-month growth was “disappointing”, year-on-year retail growth rose a seasonally adjusted 5 per cent, which it stated is “a positive sign for the retail industry”.
The ARA and Roy Morgan predicted pre-Christmas sales figures of $45 billion (from 15 November to 24 December 2014), which ARA executive director Russell Zimmerman said retailers remain hopeful will be achieved.
“We won’t be able to confirm the actual pre-Christmas spend until December retail figures are released next month,” Zimmerman commented.
“However, after speaking with retailers across the country, many reported a fairly slow start to Christmas sales in November due to the reluctance of consumers to start their holiday shopping early. As usual, consumers left most of their shopping until the last minute.”