Retail Turnover Down Again In March

Australian retail turnover fell 0.1 per cent in March 2017, seasonally adjusted, according to the latest Australian Bureau of Statistics (ABS) Retail Trade figures. This follows a fall of 0.2 per cent in February 2017. This continues the weakness which is related to big debt and flat incomes. QLD looks a particular concern.

In seasonally adjusted terms, there were falls in food retailing (-0.5 per cent), cafes, restaurants and takeaway food services (-0.5 per cent), department stores (-0.6 per cent) and household goods retailing (-0.1 per cent). These falls were offset by rises in other retailing (1.1 per cent) and clothing, footwear and personal accessory retailing (0.4 per cent).

In seasonally adjusted terms, there were falls in Queensland (-1.3 per cent), the Northern Territory (-1.8 per cent), South Australia (-0.1 per cent) and Tasmania (-0.2 per cent). There were rises in Victoria (0.4 per cent), New South Wales (0.1 per cent), the Australian Capital Territory (0.3 per cent) and Western Australia (0.1 per cent).

The trend estimate for Australian retail turnover was relatively unchanged (0.0 per cent) in March 2017 following a 0.1 per cent rise in February 2017. Compared to March 2016, the trend estimate rose 2.5 per cent.

Online retail turnover contributed 3.7 per cent to total retail turnover in original terms.

In seasonally adjusted volume terms, turnover rose 0.1 per cent in the March quarter 2017, following a rise of 0.7 per cent in the December quarter 2016. The main contributors to this rise were food retailing (0.6 per cent), household goods retailing (0.4 per cent) and other retailing (0.4 per cent).

Author: Martin North

Martin North is the Principal of Digital Finance Analytics

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