Retail turnover up 0.5 per cent in July: Australia

Australian retail turnover rose 0.5 per cent in July 2023 (seasonally adjusted), according to figures released today by the Australian Bureau of Statistics (ABS).

Ben Dorber, ABS head of retail statistics, said: “The rise in July is a partial reversal of last month’s sharp decline in turnover. This was after weaker-than-usual end of financial year sales.”

The rise in July follows a 0.8 per cent fall in June 2023 and a 0.8 per cent rise in May 2023.

“While there was a rise in July, underlying growth in retail turnover remained subdued. In trend terms, retail turnover was unchanged in July and up only 1.9 per cent compared to July 2022, despite considerable price growth over the year,” Mr Dorber said.

Most non-food industries rose in July, following larger falls in June. Department stores (+3.6 per cent) recorded the largest rise, followed by clothing, footwear and personal accessory retailing (+2.0 per cent), and other retailing (+0.3 per cent). Household goods retailing recorded a second consecutive fall (-0.2 per cent), the eighth monthly fall in turnover in the past 12 months.

Food-related spending was mixed, with a rise in cafes, restaurants and takeaway food services (+1.3 per cent) while food retailing remained unchanged.

“Cafes, restaurants and takeaway food services turnover grew considerably, despite an overall slowing down in food-related spending in recent months,” Mr Dorber said.

“The rise in July was boosted by additional spending at catering and takeaway food outlets linked to the 2023 FIFA Women’s World Cup and school holidays.”

Retail turnover was mixed across the states and territories, with New South Wales, Victoria, Queensland and the Australian Capital Territory rising in July after large falls in June.