Oz Retail Turnover Up 12.2% YoY In July, Led By Household Goods
Australian retail turnover rose by 12.2% year-on-year in July, according to preliminary trade figures from the ABS.
Month-on-month, retail turnover was up 3.3%.
“Retail turnover rose in all states and territories except Victoria in July. The rise across the rest of the country was driven by continued strength in household goods retailing, and the recovery in cafes, restaurants and takeaway food services, and clothing, footwear and personal accessory retailing,” said Ben James, Director of Quarterly Economy Wide Surveys at ABS.
Household goods retailing led the monthly rise nationwide – turnover in household goods was up 30% year-on-year, with sales of furniture, whitegoods, and electrical items remaining particularly high.
“Victoria’s decline in retail turnover coincided with increasing numbers of COVID-19 cases, and the re-introduction of Stage 3 stay-at-home restrictions in July, impacting turnover,” said James.
While broader retail turnover was down in Victoria, the state did record a rise in supermarket and grocery store turnover, with spikes in sales of non-perishable items, as was seen in the first round of COVID-19 panic-buying.