Seasonally-adjusted Dec 2024 retail turnover in Australia drops 0.1%

This comes after a 0.7-per cent growth in November and 0.5-per cent growth in October.    

“Retail spending held firm following strong growth in recent months with promotional activity stretched across the quarter,” Robert Ewing, ABS head of business statistics, said in a release.

Turnover results were mixed across industries. Household goods retailing (1.6 per cent) had the largest rise, with a fourth straight month of growth over 1 per cent. Department stores retailing (0.4 per cent) also rose.

“Cyber Monday drove more spending on household goods as consumers took advantage of discounts on big ticket items,” Ewing said.

The rises were offset by falls in clothing, footwear and personal accessories retailing (minus 1.8 per cent) and other retailing (minus 1.4 per cent). Both industries had witnessed rises in November last year.

ALCHEMPro News Desk (DS)