The recent release of the February 2016 retail trade figures by the Australian Bureau of Statistics revealed flat growth in retail sales, although strong performance is still being recorded in some key divisions of household goods and clothing.
As indicated in the graph below, the sector grew by 3.7 per cent nationally in trend terms, with Victoria (5.1 per cent), New South Wales (4.8 per cent) and Tasmania (4.3 per cent) all growing at a larger rate than the national average.
*Source: ABS 8501.0 – Retail Trade, Australia, Feb 2016
Analysis, conducted by the National Retail Association highlights that the sub-category of household goods continues to be the main driver of growth in the Australian Retail industry, with sales increasing by 5.8 per cent in trend terms during February. Hardware, building and garden supplies continues to outperform all other areas of the retail industry, growing by 7.2 per cent in trend terms. This accounts for an additional $102.6 million being spent on paint, timber, tools, and garden supplies compared with February 2015.
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