Retail

Australia's retail sales show slight increase in Feb 2023

29 Mar '23

1 min read

Pic: Shutterstock/ Sorbis

Insights

Retail turnover in Australia jumped by 0.2 per cent in February 2023, following a 1.8 per cent rise in January.
Department stores in Australia saw the largest increase in non-food industries with a 1.0 per cent rise; other retailing fell by 0.4 per cent.
Australia's clothing, footwear, and personal accessory retailing rose by 0.6 per cent.

Australian retail turnover jumped 0.2 per cent in February 2023, following a 1.8 per cent rise in January 2023. Retail turnover increased modestly across most of the states and territories, with rises at 1.0 per cent or less. Queensland recorded the only fall in turnover, down 0.4 per cent, as per the Australian Bureau of Statistics (ABS).

Of the non-food industries, department stores rose 1.0 per cent in February, followed by clothing, footwear, and personal accessory retailing by 0.6 per cent. Other retailing was the only industry to record a fall this month, down 0.4 per cent, ABS said in a press release.

“Retail sales rose modestly in February and appear to have levelled out after a period of increased volatility over November, December, and January. On average, retail spending has been flat through the end of 2022 and to begin the new year. Non-food industry results were mixed as consumers continue to pull back on discretionary spending in response to high cost of living pressures,” said Ben Dorber, ABS head of retail statistics.

Fibre2Fashion News Desk (NB)

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