Retail trade consolidates: Pete Wargent

Retail trade consolidates: Pete Wargent
Retail trade consolidates: Pete Wargent
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. 
 

Retail trade consolidates: Pete Wargent

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

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

Retail trade consolidates: Pete Wargent

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. 
 

Retail trade consolidates: Pete Wargent

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!
 

Retail trade consolidates: Pete Wargent

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. 
 

Retail trade consolidates: Pete Wargent

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

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

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