While the trend estimate for Australian retail trade turnover at current prices rose a modest 0.4% in October 2014 following similar rises in September and August, the Australian Retailers Association said year-on-year retail growth rose 5.7% (seasonally adjusted, compared to October 2013), a positive sign for the retail industry.
The original estimate for Australian turnover rose 5.5% in October 2014, while chains and other larger retailers grew by 6.5% and smaller retailers rose 3.7% in original turnover, according to ABS Retail trade figures.
The following industries rose in trend terms in October 2014: Food retailing (0.4%), Household goods retailing (0.6%), Other retailing (0.4%), Cafes, restaurants and takeaway food services (0.4%), Clothing, footwear and personal accessory retailing (0.5%) and Department stores (0.2%).
For food retailing by industry subgroup, the trend estimate rose for Supermarkets and grocery stores (0.3%) and Liquor retailing (0.6%) and fell for Other specialised food retailing (-0.3%).
The seasonally adjusted estimate rose for Supermarkets and grocery stores (0.4%) and Liquor retailing (2.2%). Other specialised food retailing fell by -1.4%.
The following states and territories rose in trend terms in October 2014: NSW (0.7%), Victoria (0.4%), WA (0.3%), SA (0.5%) and the ACT (0.8%). Queensland was relatively unchanged (0.0%), while the NT (-0.4%) and Tasmania (-0.1%) fell in trend terms.
ARA executive director Russell Zimmerman said retail sales were fairly slow in October thanks to the unpredictable weather and the reluctance of consumers to get a head start on their Christmas shopping.
“October’s modest results are somewhat expected. The ARA is confident that retailers will achieve the expected $45 billion in sales between 15 November and 24 December, and we look forward to confirming these statistics in the New Year,” Mr Zimmerman said.