The Australian Bureau of Statistics (ABS) released the November 2011 Retail Trade this morning showing retail turnover was unchanged seasonally adjusted, following a rise of 0.2% the previous month.
On a monthly basis, the trend estimate rose 0.3% following a rise of 0.3% in October and September, however seasonally adjusted, turnover was unchanged following the 0.2% and 0.3% rises in the same months:
By Industry the numbers become more interesting, with the Clothing, footwear and personal accessory retailing and Department stores figures all falling, whilst other retailing and cafes/restaurants were slightly up.
Clothing, Footwear, PA Retailing
Department stores
Other retailing - newspapers/books fell almost 1%, recreational goods up 1.3%
Echoing the insight of our latest blogger Hera in her inaugural post this morning, it doesn’t look good for the traditional retailers, in particular department stores, bookstores and the like. But has happens during slowdowns it appears spending at cafe’s and restaurants has remained robust, or is this not the right picture?