Retail turnover rises 0.2 per cent in June

Australian retail turnover rose 0.2 per cent in June 2022 to another record level, according to the Retail Trade figures released today by the Australian Bureau of Statistics (ABS). 

The June result followed a revised 0.7 per cent rise in May 2022, a rise of 0.9 per cent in April 2022 and a rise of 1.6 per cent in March 2022.

Ben Dorber, head of retail statistics at the ABS, said: “While the 0.2 per cent rise in June 2022 was the sixth-straight rise in retail turnover, it was also the smallest so far this year.

“Results were mixed across the six industries, with turnover rising in three of them and falling in the others, as cost-of-living pressures appear to be slowing the growth in spending.”

Cafes, restaurants, and takeaway food services had the largest rise, up 2.7 per cent, followed by clothing, footwear, and personal accessory retailing (1.3 per cent), and other retailing (0.5 per cent).

Department stores saw the largest fall, down 3.7 percent, followed by food retailing (-0.3 per cent) and household goods retailing (-0.3 per cent).

Turnover rose in the Northern Territory (1.8 per cent), Queensland (0.7 per cent), the Australian Capital Territory (0.6 per cent), Western Australian (0.5 per cent) and Tasmania (0.5 per cent).

New South Wales was the only state or territory where turnover fell, down 0.2 per cent. Retail turnover was relatively unchanged in South Australia and Victoria (0.0 per cent).

“Given the increases in prices we’ve seen in the Consumer Price Index, it will also be important to look at changes in the volumes of retail goods, in next week’s release of quarterly data,” Mr Dorber said.

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