Retail rebounds after a dire December, latest data shows
Australia's retail sector has bounced back after a grim December had shopkeepers fretting about the future of their businesses.Retail turnover rose 1.9 per cent in January, according to the latest data from the Australian Bureau of Statistics (ABS).It comes after a deeper than expected four per cent drop in December.
The retail rebound was sharpest in department stores (8.8 per cent) and clothes, footwear and personal accessories (6.5 per cent).Household goods rose 1.1 per cent and other retailing rose 2.9 per cent. Cafes, restaurants and takeaway food rose 1.2 per cent, a record high after months of sluggish growth. But food retailing was essentially flat, rising just 0.3 per cent. Retail numbers in the past year have been flat over the past few months, the ABS' Ben Dorber said. "November, December and January are the most seasonal months of the year, with retail activity heavily affected by the Christmas period and January holidays," Dorber said. "This has been heightened by an increase in the popularity of Black Friday sales and growing cost of living pressures combining to drive a change in usual consumer spending patterns." Last month's numbers are the best figures recorded since November 2021, which saw a 6.6 per cent jump. That spike was credited to much of the country leaving lockdown for the first time in months.