Australian retail trade turnover was flat in June, missing market expectations of a 0.4% rise.
Today’s ABS data follows disappointing May figures, when sales were up just 0.1%, missing analyst expectations of 0.3%. The ABS today adjusted the May retail trade figures up to 0.2%.
It means the first key data release of the federal election campaign, kicked off yesterday by Kevin Rudd, is a miss.
Rudd says he wants the election to be about who voters most trust to manage the economy through its transition period after the mining boom.
Turnover rose in cafes, restaurants and takeaway food services (0.9%), household goods retailing (0.3%) and food retailing (0.1%), but fell in other retailing (-1.1%) and clothing, footwear and personal accessory retailing (-0.2%).
Turnover in department stores was unchanged.
Retail trade generated $21.8 billion in revenue in June, and $65.1 billion in the June quarter, seasonally adjusted ABS figures reveal.
Through the year, Australian retail turnover rose 1.1% in June 2013, seasonally adjusted, compared to June 2012.
The ABS data is here.
NOW READ: BE CONCERNED, BE MILDLY CONCERNED: Kevin Rudd’s Gamble On Economic Trust
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