Retail turnover falls less than expected in December: ABS
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The news: Australian retail turnover fell 0.1% in December 2024, beating estimates of a 0.7% fall, according to new seasonally adjusted figures from the Australian Bureau of Statistics (ABS).
The numbers: The fall followed growth of 0.7% in November and 0.5% in October.
Household goods retailing had the largest rise at 1.6%, with a fourth straight month of growth over 1%. Department stores rose 0.4% as Cyber Monday drove more spending.
Food retailing was up 0.1%, which the ABS said was impacted by supermarket supply chain disruptions.
However, clothing, footwear and personal accessory retailing (-1.8%) and other retailing (-1.4%) fell, as did cafes, restaurants and takeaway food services (-0.5%).
Retail volumes per capita (0.5%) rose for the first time since the June quarter in 2022 thanks to easing of retail price growth and cost-of-living relief measures.
The context: Retail spending was steady during the quarter as promotional activity continued during the month.
What they said: ABS head of business statistics Robert Ewing said: “Cyber Monday fell in early December and boosted spending to begin the month, particularly on discretionary items like furniture, homewares, electronics and electrical items”.
The source: ABS media release
