The latest release of retail trade data for September 2023 indicates positive momentum in the Australian retail sector, reflecting ongoing recovery. Here are the key highlights:
Overall Performance:
- The seasonally adjusted estimate for September 2023 reveals a 0.9% month-on-month increase in retail trade.
- Compared to September 2022, retail trade has risen by a notable 2.0%.
Detailed Results:
- An additional information release on November 3, 2023, will provide more detailed insights into the September 2023 reference period. This includes results for different states, industries, sub-groups, quarterly turnover volumes for September, and online sales.
Turnover at Current Prices (September 2023):
- Trend Estimate: $35,684.1 million, showing a 0.3% change from August 2023 and a 1.5% change from September 2022.
- Seasonally Adjusted: $35,874.6 million, indicating a 0.9% change from August 2023 and a 2.0% change from September 2022.
Sectoral Analysis:
- Food Retailing:
- Rose 1.0% ($139.0 million) in September, seasonally adjusted.
- Household Goods Retailing:
- Increased by 1.5% ($83.9 million) in September, seasonally adjusted.
- Clothing, Footwear, and Personal Accessory Retailing:
- Rose 0.3% ($8.8 million) in September, seasonally adjusted.
- Department Stores:
- Showed a significant increase of 1.7% ($32.1 million) in September, seasonally adjusted.
- Other Retailing:
- Grew by 1.3% ($70.2 million) in September, seasonally adjusted.
- Cafes, Restaurants, and Takeaway Food Services:
- Experienced negligible change, remaining relatively unchanged at 0.0% ($1.2 million) in September, seasonally adjusted.
Important Note:
- Trend estimates from March 2020 to June 2022 are not available due to the significant disruption and volatility caused by COVID-19. Such estimates during this period may be unhelpful and potentially misleading for interpreting the underlying trend in retail activity.
The positive performance across various retail sectors signals a resilient and recovering Australian economy, reflecting consumer confidence and spending habits.