Oz Retail Turnover Takes A Drop, Or Maybe Not: Stats’ Puzzle
CANBERRA: Australian retail turnover fell 4.2 percent in August, according to the latest survey by the Australian Bureau of Statistics (Stats).
But, as always with statistics, it just depends on how you look at the figures. Stats also notes that in “seasonally adjusted terms”, Australian turnover actually rose 6.9 percent in August 2020, compared with August 2019.
Un-seasonally-adjusted, however, a turnover drop remains a drop. Stats notes that Victoria led the way down, with a massive 12.6pc plunge, compared to July 2020.
This was largely caused by Stage-4 restrictions in Melbourne, and Stage-3 restrictions in regional Victoria, which it seems cobbled trading for many non-essential retail businesses. Household goods retailing – which includes spending on home computers – led the falls.
However, Stats noted that overall sales had remained 20 percent above the levels of August 2019, long before the Covid invasion.