Slight rise in Australia's retail volumes after 3 consecutive falls

Non-food related industries drove the rise in retail sales volumes this quarter, led by department stores (1.5 per cent), household goods retailing (0.8 per cent), and clothing, footwear and personal accessory retailing (0.5 per cent).

Retail volumes fell by 0.6 per cent in Q2 2023, 0.7 per cent in Q1 2023 and 0.6 per cent in Q4 2022.

Despite the rise, retail sales volumes were down by 1.7 per cent compared to Q3 2022.

“The rise in September was supported by lower price growth for retail goods, unusually warm weather, and special events like the FIFA Women’s World Cup,” ABS head of retail statistics Ben Dorber said in a release.

“Volumes are lower despite a period of strong population growth. On a per capita basis, retail volumes are down 4.0 per cent compared to this time last year, the largest 12-month fall in the history of the series,” Dorber said.

Retail prices rose by 0.7 per cent in Q3 2023 based on consumer price index data—down from 1.1 per cent in the second quarter this year.

ALCHEMPro News Desk (DS)