MISS: Australian Retail Sales Only Grew 0.1% In March

Photo: Getty/Spencer Platt

Australian retail sales only grew 0.1% in March 2014, below market expectation of 0.4%, and the February figure of 0.2%.

Here’s the release from the ABS:

The latest ABS Retail Trade figures show that Australian retail turnover rose 0.1 per cent in March 2014, seasonally adjusted, following a rise of 0.3 per cent in February 2014.

Turnover rose in food retailing (0.5 per cent) and cafes, restaurants and takeaway food services (1.1 per cent). These rises were partially offset by falls in other retailing (-1.1 per cent), household goods retailing (-0.3 per cent), clothing, footwear and personal accessory retailing (-0.3 per cent) and department stores (-0.1 per cent).

Turnover rose in New South Wales (0.8 per cent), Queensland (0.2 per cent), Tasmania (0.8 per cent) and the Northern Territory (0.1 per cent). These rises were partially offset by falls in Western Australia (-0.9 per cent), South Australia (-0.8 per cent), Victoria (-0.2 per cent) and the Australian Capital Territory (-0.8 per cent).

Through the year, Australian retail turnover rose 5.7 per cent in March 2014, seasonally adjusted, compared to March 2013.

The trend estimate for Australian retail turnover rose 0.5 per cent in March 2014. This follows a 0.6 per cent rise in February 2014. Through the year, the trend estimate rose 6.1 per cent in March 2014 compared to March 2013.

In volume terms, turnover rose 1.2 per cent in the March quarter 2014, seasonally adjusted, following a rise of 1.1 per cent in the December quarter 2013.

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