The Australian Bureau of Statistics (ABS) retail trade figures released today show a slight increase on the July 2016 figures, but still demonstrate that the sector is experiencing a flat period. In seasonally adjusted terms, retail turnover rose by 0.4 per cent in August, which follows the stagnant figures recorded for July 2016.
Seasonally adjusted, retail turnover for July 2016 remained more or less unchanged at 0.0 per cent, which follows a rise of just 0.1 per cent in June 2016. Moreover, the ABS figures demonstrate that total retail spending for July 2016 came to the sum of $25.01 billion, a replica of the June figure.
Analysts are suggesting that weather conditions may have played a role with these figures, given Australia experienced its 5th warmest July since 1961. The warmer than usual climate is thought to have enticed consumers to eat out more, with takeaway, cafes and restaurants all posting increased figures.