Retail trade consolidates: Pete Wargent

Pete WargentJanuary 10, 20170 min read
Retail trade turnover missed expectations in rising by a seasonally adjusted 0.2 percent to $25.66 billion, although this was the first miss in four months and came off the back of a 0.5 percent gain in October. 
 


The annual rate of turnover growth has eased back to 3.3 percent, comfortably below the half decade average. 
 

 
Around the traps
 
There were decent gains in November in New South Wales and Victoria, but not much to write home about elsewhere. 
 


The Australian Capital Territory has long been the leader in annual retail turnover growth since the opening of the Canberra IKEA, with New South Wales slotting into second spot, but growth has stalled in Western Australia. 
 


Smashed avo rally over?

The best performing sector this month was 'threads 'n' treads' - clothing and footwear - and the worst, surprisingly enough, was eating out!
 


Still, I wouldn't read too much into one month of figures - the trend figures show a 14.21 per cent share of total retail accounted for by takeaway food and eating out. It's never been higher. 
 



The wrap
 
A somewhat underwhelming result for retail trade this month, though when spending on services are included Commsec estimated that spending was galloping along at its fastest level since the financial crisis. 
 

Pete Wargent

Pete Wargent is the co-founder of BuyersBuyers.com.au, offering affordable homebuying assistance to all Australians, and a best-selling author and blogger.
Tags:
Economy
Retail Trade
This website uses cookies to ensure you get the best experience on our website. Find out more in our privacy policy.
Accept Cookies