The ACT retail sector posted the largest increase in trade since January 2013 during July and the first sign of positive growth this year, monthly figures released by the Australian Bureau of Statistics on Thursday show.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
Retail trade increased by a seasonably adjusted 2.6 per cent in July as sales increased from $388.6 million to $399.1 million.
This 2.6 per cent increase was the highest posting across Australia during July and the largest increase in turnover since a 2.8 per cent increase in January 2013 or a 4 per cent increase in December 2008.
Australian National Retailers' Association chief executive Margy Osmond said the July figures showed spending was up in the eastern states, with the ACT leading the charge.
"July's result is the ACT's best result since January 2013," she said. "Contributing to this rise was takeaway (up 12 per cent), pharmaceutical and cosmetics (up 9 per cent) and footwear (up 9 per cent)."
The recreational goods, liquor, hardware and household goods sectors also posted positive growth in the ACT.
Ms Osmond said the figures showed a national increase of 0.4 per cent in July compared with June while the turnover had increased 5.9 per cent since the start of the year.
Retail trade increased in NSW and Victoria by 0.7 per cent and 0.6 per cent, respectively, while South Australia and Queensland also recorded positive growth at 0.4 and 0.1 per cent.
The Northern Territory recorded the largest fall with trade down 2.3 per cent on June figures, which was the territory's biggest fall since July 2012.
Ms Osmond said the July figures would be welcomed by retailers as a sign the industry may be able to achieve an annual growth rate of 6 per cent by the end of the year.
"Retailers, however, remain cautious as consumers still have rising unemployment, soft consumer confidence and an unpredictable Senate weighing on their minds," she said.
