Northern Territory records retail trade growth for 13th consecutive month
Trend retail turnover in the Northern Territory increased by 0.3% in May 2014, according to latest statistics, with the month’s growth making it the 13th consecutive growth month recorded.
This was the equal highest monthly growth, matching New South Wales.
In the ACT, the largest decline, 0.6%, was recorded, followed by a 0.1% decline in Tasmania. Nationally, results were flat.
Over the year to May 2014, the Northern Territory’s retail trade turnover situation was up 4.6%. Retail trade turnover nationally was just behind for the same period, with 4.3% growth.
Treasurer Dave Tollner said that there is currently low unemployment and high levels of economic activity.
“Economic forecasters have been predicting strong growth in the Territory economy and it’s reassuring to see our monthly indicators continuing to rise,” he said.