The latest ABS Retail Trade figures show that Australian retail turnover rose 1.3 per cent in February 2013, seasonally adjusted, following a rise of 1.2 per cent in January 2013.
Through the year, Australian retail turnover rose 4.6 per cent in February 2013, seasonally adjusted, compared to February 2012.
The largest contributor to the rise in February 2013 was food retailing (1.1 per cent) followed by household goods retailing (1.6 per cent), other retailing (1.6 per cent), cafes, restaurants and takeaway food services (1.3 per cent), department stores (1.6 per cent) and clothing, footwear and personal accessory retailing (1.2 per cent). Over the longer term, the largest contributor to growth was household goods retailing (up 0.7 per cent in trend terms) followed by food retailing (up 0.3 per cent in trend terms).
The largest contributor to the rise was New South Wales (1.4 per cent), followed by Queensland (1.9 per cent), Victoria (1.1 per cent), Western Australia (1.8 per cent) and the Australian Capital Territory (2.6 per cent). These rises were partially offset by falls in South Australia (-0.4 per cent), the Northern Territory (-1.4 per cent) and Tasmania (-0.6 per cent). Over the longer term, Queensland was the strongest contributor to growth (up 0.6 per cent in trend terms).
The trend estimate for Australian retail turnover rose 0.4 per cent in February 2013. This follows a 0.3 per cent rise in January 2013. Through the year, the trend estimate rose 3.2 per cent in February 2013 compared to February 2012.
Economists have widely expected a rise of just 0.4 per cent. But despite the strong result, the share market opened flat in the morning and moved down during the day. (41)
