Source: Reuters
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  • Australian retail turnover reaches a new record level, rising to 1.6 per cent in March 2022 according to the Retail Trade figures released by the Australian Bureau of Statistics (ABS)
  • Director of Quarterly Economy Wide Statistics Ben James says the result was up 0.8 per cent on the previous record level set in November 2021
  • Household goods led the retail increase of 3.4 per cent, following by food services of 2.0 per cent and clothing and personal accessory of 0.5 per cent
  • Turnover in Western Australia was recorded at 1.9 per cent increase, the ABS attributing the supply chain issues recovery as the main driver

Australian retail turnover reached a new record level, rising to 1.6 per cent in March 2022 according to the Retail Trade figures released by the Australian Bureau of Statistics (ABS).

Director of Quarterly Economy Wide Statistics Ben James said the result was up 0.8 per cent on the previous record level set in November 2021, following a 1.8 per cent rise in February 2022 and a fall of 4.1 per cent in December 2021.

“Rising prices, combined with the continued easing of restrictions across the country has led to rises in turnover in all three months of the March quarter,” said Mr James.

“Consumer spending rose across both discretionary and non-discretionary industries.”

“Following flooding in late February and early March along the east coast, impacted businesses regained lost turnover from forced closures as consumers restocked pantries.”

Household goods led the retail increase of 3.4 per cent, following by food services of 2.0 per cent and clothing and personal accessory of 0.5 per cent.

Every state and territory saw a rise in retail sales except for South Australia, with turnover down 0.7 per cent.

Turnover in Western Australia was recorded at 1.9 per cent increase, the ABS attributing the supply chain issues recovery as the main driver.

Queensland and New South Wales experienced the largest increases of 3.4 per cent and 1.8 per cent respectively, following the recovery from flooding and extreme rainfall in late February and early March.

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