Retail Sales To Lift
The Deloitte backed AFGC CHEP Retail Index, shows annual growth in retail continued to lift in the March quarter with a rise of 5.8 per cent, compared to March 2013 with a turnover over of $23.01 billion.
Further increases are expected in the months ahead, with retail turnover expected to jump 6.6 per cent in the year to May, with turnover of $23.62 billion expected.
Annual retail trade growth for the June quarter is expected to rise 6.6 per cent.
Latest data from the Australian Bureau of Statistics have confirmed that retail sales picked up strongly late last year with retailers benefiting from an extended period of low interest rates.
“The continued strength in retailer sales over the past two quarterly results suggests a more stable and certain view of economic conditions,” CHEP ANZ President, Phillip Austin, said.
“Expectations for the next quarter indicate resilience in Australian retail supply chains and sales results.”
Yesterday, Harvey Norman confirmed sales rose 1.5% in its Australian business, although lifted 4% globally, for the nine months for March 31.