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Retail turnover grows 0.4% in September

Retail turnover grows 0.4% in September

Australian retail turnover improved again in September, but by a slim 0.4%, according to ABS statistics.

Seasonally adjusted turnover in current prices increased to $20.91 billion for the month, the Bureau has revealed.

The gain follows a seasonally adjusted 0.6% rise in August, and an 0.8% bump in July.

Turnover increased across all states barring Victoria, where it was relatively flat. The biggest gainer was the ACT, followed by South Australia.

Likewise, turnover improved in most industries during the September quarter. The exceptions are clothing, footwear and personal accessory retailing (down 8%) and department stores (down 2.3%).

In trend terms, total turnover has improved only 0.3% during each of the last three months, although it is up 2.4% from a year earlier.

The statistics come days after the RBA voted to trim the official cash rate in response to international and domestic economic conditions.

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Tags retailABSRBAofficial cash rateAustralian economyeconomic indicators

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