The ABS released their trade data for January 2015 today. Households are still being cautious about their spending patterns, driven by slow wage growth, rising living costs and falling confidence. The trend estimate rose 0.2% in January 2015. This follows a rise of 0.2% in December 2014 and a rise of 0.3% in November 2014 In trend terms, Australian turnover rose 3.1% in January 2015 compared with January 2014.
By industry in January, household goods retailing (0.3%), Food retailing (0.1%), Clothing, footwear and personal accessory retailing (0.7%), Cafes, restaurants and takeaway food services (0.3%) and Department stores (0.5%). Other retailing (-0.2%) fell in trend terms in January 2015.
By state in January, Queensland (0.4%), Western Australia (0.4%), New South Wales (0.1%), South Australia (0.3%), Tasmania (0.1%) and the Northern Territory (0.1%). Victoria (0.0%) and the Australian Capital Territory (0.0%) were relatively unchanged in January 2015.
