Local retail trade rises above national trend

3 November 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 September 2011 was 1.0 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 had increased above the national average.

“South Australia’s retail trade increased above all other states in September which is a positive sign for the local economy,” said Mr Vaughan.

“While it has been a tough year for retailers, this is the third consecutive increase in local retail trade and we look forward to this trend continuing up to Christmas.

“Consumer confidence is showing signs of picking up momentum which is very important as we enter the traditionally busy Christmas trading period.

“The retail sector is a significant employer here in South Australia and with our higher unemployment rate, it is essential that businesses have the confidence to hire more workers over the coming months.

“The Reserve Bank’s decision to cut interest rates will encourage consumers to increase spending which will provide a boost to the local economy.

“The business community has been under pressure throughout the year and it is important that we see further positive retail data in the coming months.”