01/10/2014 - 14:06

Retail turnover up, but below forecast

01/10/2014 - 14:06

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August saw mixed performance in retail, with turnover up 0.1 per cent on a seasonally adjusted basis, according to the latest monthly report from the Australian Bureau of Statistics.

Retail turnover up, but below forecast

August saw mixed performance in retail, with turnover up 0.1 per cent on a seasonally adjusted basis, according to the latest monthly report from the Australian Bureau of Statistics.

But despite the slight rise, reactions were subdued with the figure falling well short of consensus forecasts of 0.4 per cent.

Nearly $22.9 billion in retail trade took place in the month Australia-wide, the report said.

Western Australia was in the middle of the pack, growing at 0.1 per cent for the month, after a very slight fall in July, to a total raw turnover of $2.68 billion in raw terms.

Hardware building, and garden supplies retailing led the way for the state, with an increase of 3.9 per cent for the month, with a raw increase of almost 12.1 per cent taking total spending in that sector to $171.5 million.

Pharmaceutical, cosmetic and toiletry goods were up 2.5 per cent in seasonally adjusted terms in the west, and liquor retailing grew by 1.7 per cent.

For the calendar year to date, news was excellent for newspaper and book retailing, with an increase of 19 per cent in seasonally adjusted terms and similarly in hardware, up 12.1 per cent.

Household goods retailing and liquor retailing also performed well for the year to date, both rising more than 5 per cent.

Clothing retailing had a poorer August, falling 5.7 per cent after seasonal adjustment, whilst department stores fell 3.1 per cent and other retailing not elsewhere classified fell 4.2 per cent, down 15.6 per cent for the year to date.

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