The ABS released their Retail Turnover stats for October 2018. Still looks pretty sluggish. Perhaps Christmas will accelerate the spend. We will see! New South Wales reported a fall, well behind Victoria and Queensland.
They say:
- The trend estimate rose 0.2% in October 2018. This follows a rise of 0.2% in September 2018, and a rise of 0.2% in August 2018.
- The seasonally adjusted estimate rose 0.3% in October 2018. This follows a 0.1% rise in September 2018, and a rise of 0.3% in August 2018.
- In trend terms, Australian turnover rose 3.5% in October 2018 compared with October 2017.
- The following industries rose in trend terms in October 2018: Food retailing (0.2%), Other retailing (0.5%), Cafes, restaurants and takeaway food services (0.2%), and Clothing, footwear and personal accessory retailing (0.2%). Household goods retailing (-0.1%), and Department Stores (-0.1%) fell in trend terms in October 2018.
- The following states and territories rose in trend terms in October 2018: Victoria (0.4%), Queensland (0.5%), South Australia (0.3%), Tasmania (0.3%), and the Australian Capital Territory (0.2%). Western Australia was relatively unchanged (0.0%). New South Wales (-0.1%), and the Northern Territory (-0.8%) fell in trend terms in October 2018.
Online retail turnover contributed 5.9 per cent to total retail turnover in original terms in October 2018, a rise from 5.6 per cent in September 2018 and the highest level recorded in the series. In October 2017 online retail turnover contributed 4.7 per cent to total retail.
What ever news comes from the MSM is bullshit. Wouldn’t waste my time!