Australia's retail turnover rises 0.9% in September 2023

The data revealed that most industries experienced growth in September. Non-food related industries led the way, with department stores recording the largest rise of 1.7 per cent. This was followed closely by household goods retailing, which increased by 1.5 per cent, and other retailing sectors which saw a growth of 1.3 per cent. Clothing, footwear, and personal accessory retailing also recorded a moderate rise, growing by 0.3 per cent.

Moreover, retail turnover growth was uniformly positive across all Australian states and territories, indicating a strong and consistent performance in the retail sector nationwide, as per CBS.

“The warmer-than-usual start to spring lifted turnover at departments stores, household goods, and clothing retailers. While the rise in September was the largest since January, subdued spending for most of 2023 means that underlying growth in retail turnover remains historically low. Retail turnover in trend terms is up only 1.5 per cent compared to September 2022, the smallest trend growth over 12 months in the history of the series,” said Ben Dorber, ABS head of retail statistics.

ALCHEMPro News Desk (DP)