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Retail turnover grows 0.5% in June

Retail turnover grows 0.5% in June

The latest ABS data has brought welcome early signs of an improvement in Australian retail trading conditions.

Retail turnover rose 0.5% in July on a seasonally adjusted basis to $20.65 billion, the ABS said. This follows a 0.1% decline in June.

Turnover increased everywhere but Northern Territory - where it stayed relatively unchanged - and Queensland - where it declined by 0.2%. The best performing state was New South Wales, with a 1% increase.

The food and department store sectors gained over the month, while turnover was unchanged in household good retailing, and fell for the clothing and accessories segment.

In trend terms, turnover is up 1.5% from June 2010.

ABS separately estimated that new private capital expenditure grew 4.8% in trend terms and 4.9% seasonally adjusted during the June quarter.

Of the $33.6 billion in new capital expenditure (trend estimates), $17.89 billion went to buildings and structures, while $15.68 billion went to equipment, plant and machinery.

Capital expenditure has now been rising fairly consistently since 2009.

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Tags retailABSCAPEXeconomic indicators

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