The latest data from the Australian Bureau of Statistics (ABS) reveals insights into the retail sector’s performance for August 2023.
Key Statistics:
- Seasonally adjusted estimate shows a 0.2% month-on-month increase in August 2023.
- Compared with August 2022, retail turnover rose by 1.5%.
An additional information release on October 6, 2023, will provide more detailed results, including state-by-industry and state-by-industry sub-group results.
Total Turnover:
- Trend estimate: $35,404.4 million, with a 0.1% change from July and 1.3% change from August 2022.
- Seasonally adjusted: $35,432.7 million, with a 0.2% change from July and 1.5% change from August 2022.
Note: Trend estimates from March 2020 to June 2022 are unavailable due to the COVID-19 disruption.
Monthly Turnover by Industry:
- Food Retailing:
- Fell by 0.3% (-$35.3 million) in August.
- Household Goods Retailing:
- Declined by 0.4% (-$24.6 million) in August.
- Clothing, Footwear, and Personal Accessory Retailing:
- Showed growth of 1.3% ($39.1 million) in August.
- Department Stores:
- Increased by 0.4% ($8.4 million) in August.
- Other Retailing:
- Rose by 0.7% ($37.4 million) in August.
- Cafes, Restaurants, and Takeaway Food Services:
- Experienced a 0.7% ($37.2 million) rise in August.
The ABS emphasizes that trend estimates during the pandemic period might be unhelpful due to volatility caused by COVID-19.