The ABS says the trend estimate for Australian retail turnover rose 0.3 per cent in May 2018 following a rise (0.3 per cent) in April 2018. Compared to May 2017, the trend estimate rose 2.8 per cent, so still stronger than wages growth (as people raid savings and put more on credit cards).
Across the categories department stores rose 0.5% on the previous month, thanks to sales being brought forward from June, food retailing was up 0.4%, household goods and other retailing were 0.2% and clothing and footwear rose just 0.1%.
Across the states, the northern territories rose 0.9, ACT 0.6%, Tasmania 0.5%, New South Wales 0.4%, Victoria 0.3%, Queensland and SOuth Australia 0.1% and there was no change in Western Australia.
Online retail turnover contributed 5.6 per cent to total retail turnover in original terms in May 2018, a rise from 5.4 per cent in April 2018. In May 2017 online retail turnover contributed 3.9 per cent to total retail.
I believe the days of using “Retail Turnover” alone have long passed. For example a big screen TV that cost over $5,000 a few years ago can now be bought for under $500, so same number sold but the amount has reduced.
Have a look a kitchen appliances, a toasted that used to cost $100 now can be bought for $10.
This depreciation is not factoring into Retail Turnover and therefor giving incorrect results.
Unless you make a living shorting the ASX and need this to make a dollar.
No value to anyone on Main Street.