MNI BRIEF: Aussie Retail Spending Rises In June

Australian retail turnover rose 1.2% in June following May's 0.5% increase, higher than the 0.4% market expectation, according to data released by the Australian Bureau of Statistics on Tuesday. 

"The strong June month rise in retail turnover was driven by discounts linked to sales and new product releases," said Robert Ewing, head of business statistics at the ABS. "After steady growth throughout the year, mid-year sales events increased spending on discretionary items like furniture, electrical goods and clothing items."

Non-food related spending drove most of the rise in retail turnover, with increases in all industries, led by household goods retailing (+2.3 per cent) and other retailing (+1.9 per cent) also contributing. 

The release marks the final edition of Retail Trade, Australia, concluding a 74-year series that began in 1951. From now, monthly data on household spending will be published via the ABS’s Monthly Household Spending Indicator, which offers a broader view of consumption trends by including both goods and services.