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(CEP News) Sydney - The Australian Bureau of Statistics (ABS) announced that the seasonally adjusted estimate of turnover for the Australian Retail and Hospitality/Services industries increase 0.5% in March 2008. This follows a decrease of -0.1% in February 2008 and a revised no change in January 2008.
All industries, except food retailing and household goods (both +1.7%) had a decrease in the seasonally adjusted estimate in March 2008. All Provinces and territories recorded increases in the seasonally adjusted estimate, except for New South Wales and The Australian Capital Territory (both -0.2%). The largest increases occurred in Queensland (1.0%), Victoria and Western Australia (both 0.9%). New South Wales has now suffered four months of only weak trend growth. Food retailing has been in decline for those months, while most other industries have had at least one month of weak growth. Despite a positive seasonally adjusted figure, Victoria has managed three months of weak growth. Hospitality and services have had a decline in the trend estimate for two months, with clothing, soft and household goods recording no change. In Queensland, Food retailing has enjoyed six months of moderate trend growth, however clothing, household goods and hospitality and services have suffered a decline in the trend estimate. South Australia, recording a seasonally adjusted change of 0.6%, now enjoys eight months of strong trend growth ending March 2008, with recreational goods and other retaining leading the way. Following 13 months of strong growth, the hospitality and service industry had moderate growth during the month. Food retailing, clothing, soft good and household goods all recorded moderate trend growth. In Western Australia the decline in the trend estimate continues into its fourth month. Department stores, clothing, soft goods, household goods and hospitality services all being in decline. Food retailing exhibited some weak trend growth. The island province of Tasmania recorded a seasonally adjusted increase of 0.7%, with food retailing being in decline, recreational goods showing no change. Household goods however, along with hospitality and services had strong trend growth. Reported by Tim Stackpool. (
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