The latest update from ABS reveals Australian retail turnover has risen 0.8 percent to $22 billion in September.
Latest data from the Australian Bureau of Statistics (ABS) indicates that retail spending has continued to improve, with further advances driven by department store sales off the back of a bump in consumer confidence.
The ABS reports that retail spending has risen by 0.8 percent in September, reading $22.15 billion – a greater-than-expected increase that could serve as a beacon of hope for retailers in the lead up to Christmas. Spending increases were also greatest in NSW and Victoria, at one percent apiece.
Breakdown by Retail Category:
- Other retailing, 1.6%
- Department stores, 2.8%
- Clothing, footwear and personal accessories, 2.5%
- Food retailing, 0.4%
- Cafés, restaurants and takeaway food, 0.6%
- Household goods, -0.4%
Overall, Australian retail turnover has risen 2.9 percent to September 2013 (seasonally adjusted) compared with the same period last year.
The slight upward trend will hopefully continue for some time, with the discussion largely pointing towards a return to consumer confidence following an extended election period.
The question is, will these figures continue to rise as we go into the all-important holiday shopping period?