Retail turnover rose 0.1% in April: ABS
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The news: Australian retail turnover rose 0.1% in April 2024, following a 0.4% fall in March, new Australian Bureau of Statistics (ABS) figures show.
The numbers: Turnover in most non-food related industries rose in April, as other retailing (1.6%) saw the largest rise over the month, followed by household goods retailing (0.7%) and department stores (0.1%). Meanwhile, clothing, footwear, and personal accessory retailing fell 0.7%.
Food-related spending was mixed with a 0.5% drop in food retailing, while there was a 0.3% rise in cafes, restaurants and takeaway food services. ABS said the fall in food retailing was a partial reversal of the 0.8% rise in March, when the earlier-than-usual Easter boosted spending, particularly on alcohol.
Nationally, retail turnover growth was mixed, with New South Wales (0.7%) seeing the largest rise, followed by South Australia (0.5%).
The context: ABS noted that underlying retail spending continued to be weak as the small rise in turnover in April was not enough to make up for the fall in March.
Since the start of 2024, trend retail turnover has been flat as cautious consumers reduce their discretionary spending, it said.
The source: ABS media release
