Australian retail turnover rose 0.2% in April 2013, seasonally adjusted, following a fall of 0.4 per cent in March 2013, according to data released today by the Australia Bureau of Statistics.
Here’s what you need to know:
- The largest contributor to the rise in April 2013 was food retailing (0.5%) followed by clothing, footwear and personal accessory retailing (1.8%), cafes, restaurants and takeaway food services (0.5%) and other retailing (0.1%)
- These rises were partially offset by falls in department stores (-2.0%) and household goods retailing (-0.6%). Over the longer term, the largest contributor to growth remains food retailing (up 0.6% in trend terms)
“Anecdotal reports suggest retail sales rose in April, although we expect growth to continue moderating,” said Westpac Banking Corp economists led by Bill Evans, who predicted a 0.2 percent increase, said in a research report before the release, according to Bloomberg.
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