Newspaper article Fraser Coast Chronicle (Hervey Bay, Australia)

Purse Strings Relax; Retail Figures Show an Increase in Sales during August

Newspaper article Fraser Coast Chronicle (Hervey Bay, Australia)

Purse Strings Relax; Retail Figures Show an Increase in Sales during August

Article excerpt

Byline: Ron Goodman

RETAILERS could be in for a better than expected Christmas if sales momentum continues its upward trend.

Retail trade figures released by the Australian Bureau of Statistics show retail turnover increased 0.4% in August despite the looming September federal election.

The seasonally adjusted figure was up from a 0.1% increase in July and could signal better times ahead.

Department store spending was a significant contributor to the result as consumers started to loosen the purse strings.

Turnover in department stores was up 6.4% on the previous months, while cafes, restaurants and takeaway food services enjoyed a 0.4% rise.

Household goods retailers were not quite as fortunate, with a seasonally adjusted 0.6% fall in turnover in August.

Victoria led the nation with a 0.6% rise in retail turnover with New South Wales just behind with a 0.4% increase.

Queensland retail turnover grew more slowly at 0.2% seasonally adjusted, however, this was still a better performance than either South Australia or the Australian Capital Territory, where turnover actually fell in August. …

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