Home topics news Credit: Eduardo Soares News News Retail turnover jumps 0.5% in July Yajush Gupta August 29, 2023 July 2023 witnessed a noteworthy upswing in Australian retail turnover, registering a 0.5 percent increase when adjusted for seasonal variations. This promising development, as unveiled by the Australian Bureau of Statistics (ABS) in their latest release, marks a partial rebound from the pronounced decline observed in the preceding month. The decline in June was attributed to lacklustre end-of-financial-year sales, further underscoring the significance of the July uptick. The recent surge comes on the heels of a 0.8 percent contraction in retail turnover during June 2023, juxtaposed with a corresponding 0.8 percent ascent in May of the same year. Ben Dorber, the Head of Retail Statistics at the ABS, contextualized this growth, highlighting the subdued nature of underlying retail turnover expansion. When analysed in terms of trends, the retail turnover landscape remained relatively unchanged in July, demonstrating a mere 1.9 percent advancement compared to the corresponding month in the previous year. This modest increase occurred despite noticeable price escalation over the twelve-month period, offering a nuanced perspective on the overall retail climate. A deeper dive into the sectoral breakdown reveals a resurgence across most non-food industries, signifying a recovery from the preceding downturn in June. The standout performer in this context was department stores, showcasing an impressive 3.6 percent surge, followed closely by clothing, footwear, and personal accessory retailing, which experienced a commendable 2.0 percent upswing. Meanwhile, other retailing categories posted a