Home > Industry > Retail Spend Rises Again

Retail Spend Rises Again

Australian retail turnover rose by 0.6% to $26.08 billion in May 2017 according to the latestĀ figures released by the Australian Bureau of Statistics.

This marks two consecutive months of growth in turnover after a rise of 1% in April, which was the biggest jump since late 2013. Market expectations had put growth at 0.2% for May.

Seasonally adjusted figures indicate sales of electrical and electronic goods rose by 2.8% during the month, driving an overall 2.2% rise in the household goods retailing category.

Most other industries also experienced increased turnover, including clothing, footwear and personal accessory retailing (up 1.3%), cafes, restaurants and takeaway food services (up 0.6%), food retailing (up 0.1%), and other retailing (0.6 per cent). Meanwhile department store turnover fell by 0.7%.

The ABS said online retail turnover had contributed 3.9% to total retail turnover in May.

You may also like
Retailers Flee From CBDs Again
Consumer Confidence Takes Sharpest Dive Since Start Of Pandemic
EOFY Spending Was Down As Lockdowns Hit Hard
Over $8B In Retail Trade Will Be Lost During Lockdowns
COVID and Retail: Negative Sales Growth Expected