RETAIL UP

Written on the 2 June 2011

RETAIL UP

RETAIL trade in Queensland is recovering faster than the national average according to the latest ABS statistics - but don’t get too excited, it’s only increased by 1.8 per cent.

The figure is still the second highest growth rate in the country however, with only Victoria (2.8%) leading the sunshine state in the increase in retail spend.

The statistics for the month of April show $20.74 billion was spent in the retail sector across the country, reflecting a national average increase of 1.1 per cent.

The two star performers drove the figure up however, with Western Australia (0.6%), New South Wales (0.1%) and Tasmania (0.5%) all recording minimal increases.

Retailers in South Australia (-0.4%), the Australian Capital Territory (-0.6%) and the Northern Territory (-0.8%) appear to have experienced yet another painful month, with further drops in the state markets.

Nationally, turnover rose in food retailing (0.9%), ‘other’ retailing (2.0%), department stores (3.6%), household goods retailing (0.7%) and clothing, footwear and personal accessory retailing (1.2%).

Turnover fell in cafes, restaurants and takeaway food services (-0.3%).

The news isn’t good for the hospitality sector, but the overall retail industry will be boosted following a flat March (-0.3%).

 

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