Australia’s retail sales turnover for July showed no growth on a monthly basis, falling short of the expected 0.2% mom increase. This flat result comes after consecutive 0.5% mom increases in both June and May, driven by mid-year sales events.
According to Ben Dorber, head of retail statistics at the Australian Bureau of Statistics, “After rises in the past two months boosted by mid-year sales activity, the higher level of retail turnover was maintained in July.”
However, the detailed breakdown reveals a mixed picture across industries, with most sectors either seeing declines or remaining flat. The only industry to post an increase was food retailing, which managed a modest 0.2% rise.
