Retail trade jumps most since January, remains soft: ABS

The news: Australian retail spending in September had its biggest monthly increase since January, but underlying growth in the sector remains historically low, ABS figures show.

The numbers: Retail spending in September lifted 0.8% following increases of 0.3% and 0.6% in August and July. Retail turnover was 2.0% higher than September 2022, but only 1.5% in trend terms, the lowest trend growth in the history of the series.

What they said: "The warmer-than-usual start to spring lifted turnover at departments stores, household goods and clothing retailers, with more spending on hardware, gardening, and clothing items," ABS retail statistics head Ben Dorber said in a statement.

"Also adding a boost to turnover in household goods retailing was the release of a new iPhone model and the introduction of the Climate Smart Energy Savers Rebate program in Queensland."