Local retail spending recovers in January

1 March 2011

Figures released today by the Australian Bureau of Statistics (ABS) reveal an increase in local retail trade, according to the State’s leading business membership organisation, Business SA.

Retail turnover in South Australia for January 2011 was 2.4 per cent higher (seasonally adjusted) than the previous month’s figures.

This compares to the national retail turnover which had a 0.4 per cent increase during the same month.

Business SA Chief Executive Officer, Peter Vaughan, said that it was pleasing that retail trade increased above the national average.

“After three months of declining retail trade, it is good news that trade increased in South Australia during January,” said Mr Vaughan.

“The November interest rate rise hurt confidence levels and there was little opportunity for local businesses to capitalise on post Christmas sales with the State shutting up shop over the Christmas period.

“With growth in retail sales still relatively slow, any further interest rate rises will certainly hit consumer spending, as we saw before Christmas.

“This is the first rise in local retail trade since August last year, indicating the pressure that local businesses have been under.

“As we enter the busy festival season, we look forward to further positive retail data in the coming months.”