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Australian Retail Figures Recover
Predictions of stronger performance in Australian retail were on the money today, with the ABS announcing that Retail Trade figures depicted a rise of 0.4 percent in retail turnover.
The Australian Bureau of Statistics‘ monthly Retail Trade figures note that the rise comes after a 0.1 percent slide the month before, with both sets of figures inclusive of offline and online activity and adjusted for season. Online retail turnover contributed 3.1 percent to total retail turnover, remaining steady over past months.
Major contributors to the recovery include household goods, food retailing, personal and recreational products, and department stores, offsetting a fall in sales of clothing, footwear and accessories. Statewise, strong performances from Victoria (0.9 percent rise), New South Wales (0.5), Western Australia (0.2 per cent), South Australia (0.3 per cent) and Tasmania (0.4 per cent) offset sliding figures in Queensland (-0.2), the Northern Territory (-0.9) and the Australian Capital Territory (-0.4).
The recovery has seen a respective bounce in the Australian dollar, regaining ground lost overnight. The rise in retail turnover is expected to continue through August, predicted to lift a further 0.2 percent.