Retail turnover up 0.5 per cent in July

Australian retail turnover rose 0.5 per cent in July 2023 (seasonally adjusted), according to figures released by the Australian Bureau of Statistics (ABS).

Ben Dorber, ABS head of retail statistics, said: ‘The rise in July is a partial reversal of last
month’s sharp decline in turnover. This was after weaker-than-usual end of financial year sales.’

The rise in July follows a 0.8 per cent fall in June 2023 and a 0.8 per cent rise in May 2023.

‘While there was a rise in July, underlying growth in retail turnover remained subdued. In
trend terms, retail turnover was unchanged in July and up only 1.9 per cent compared to July 2022, despite considerable price growth over the year,’ Mr Dorber said.