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How to resolve AdBlock issue? Measly year-on-year retail growth for May
THE Australian Retailers Association (ARA) said although May trade figures released today by the Australian Bureau of Statistics (ABS) are above market expectations, they represent a weaker lead-in to winter than retailers would have liked, displaying a 2.49 percent total growth year-on-year.
Russell Zimmerman, executive director of the ARA, said due to the slow lead-in to winter this year, May retail trade results portray a dim outcome for retailers across the country.
“Although May’s 2.49 percent year-on-year growth seems quite dismal, we need to take into account that this was before the second stage of the penalty rate reduction was implemented and the low-value import threshold (LVIT) GST was introduced,” Mr Zimmerman said.
“While the ARA are concerned with this meek growth, the retail industry received two big wins on July 1 and we look forward to the benefits this will bring our retailers, their staff and the overall economy.”
Food Retailing (3.71%) and Clothing, footwear and personal accessories (3.20%) remained strong, with both categories receiving over 3% growth year-on-year.
“The biggest growth across the ABS retail categories were Liquor (5.95%), Other Retailing (5.77%) and Specialised Food (5.06%) as these categories all received over 5 percent year-on-year growth,” Mr Zimmerman said.
“Another positive for May trade is the fact that Department stores have received their best figures since October last year, this could be because they began their mid-year sales earlier.”
Across the country, the Northern Territory (4.27%) continues to improve its upward trend, closely followed by Tasmania (3.82%) and Victoria (3.69%). New South Wales (2.86%), South Australia (2.35%) and the Australian Capital Territory (2.22%) remain steady, while Queensland (1.97%) received minimal year-on-year growth.
"Unfortunately, we’ve seen Western Australia (-0.74%) continue to struggle, returning to negative figures and significantly lagging behind the rest of the country," Mr Zimmerman said.
“The Northern Territory has received its best growth in over a year, which is an encouraging sign for retailers in the top-end of the country."
“And I’m pleased to say at the other end of the country, we can see confidence returning to Tasmania after the State election in March.”
Monthly retail growth (April 2018 – May 2018 seasonally adjusted)
Department stores (3.87%), Other retailing (-0.09%), Food retailing (0.29%), Clothing, footwear and personal accessory retailing (2.23%), Cafes, restaurants and takeaway food services (-0.99%) and Household goods retailing (0.06%).
Tasmania (1.51%), South Australia (1.13%), New South Wales (0.51%), Queensland (0.43%), Northern Territory (0.41%), Victoria (0.23%), Australian Capital Territory (0.02%) and Western Australia (-0.45%).
Total sales (0.37%).
Year-on-year retail growth (May 2017 – May 2018 seasonally adjusted)
Food retailing (3.71%), Clothing, footwear and personal accessory retailing (3.20%), Department stores (2.06%). Other retailing (1.58%), Cafes, restaurants and takeaway food services (1.44%) and Household goods retailing (1.12%).
Northern Territory (4.27%), Tasmania (3.82%), Victoria (3.69%), New South Wales (2.86%), South Australia (2.35%), Australian Capital Territory (2.22%), Queensland (1.97%) and Western Australia (-0.74%).
Total sales (2.49%).
About the Australian Retailers Association:
Founded in 1903, the Australian Retailers Association (ARA) is Australia’s largest retail association, representing the country’s $310 billion sector, which employs more than 1.2 million people. As Australia’s leading retail peak industry body, the ARA is a strong pro-active advocate for Australian retail and works to ensure retail success by informing, protecting, advocating, educating and saving money for its 7,500 independent and national retail members throughout Australia. For more information, visit www.retail.org.au or call 1300 368 041.
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