The ABS has released preliminary retail sales data for June, which rose by 2.4% over the month to be 8.2% higher year-on-year:
- There were large increases in turnover in Cafes, restaurants and takeaway food services, and Clothing, footwear and personal accessory retailing. While some restrictions on trade remain, many businesses saw a full month of trade in June, having been closed for the first week of May 2020.
- Rises in Cafes, restaurants and takeaway food services exceeded 20% for the second consecutive month, but will remain 17% below the levels of June 2019, while Clothing, footwear and personal accessory retailing rose around 19%, remaining 6% below June 2019 levels.
- Food retailing rose 0.9% following a 7.2% month-on-month rise in May, and remains elevated in through-the-year terms.
- Analysis of supermarket scanner data shows that compared to June 2019, Perishable goods rose 14.4%, Non-perishable goods 12.4%, and All other products 7.8%. The annual growth reflects a continuation of more food being prepared and consumed at home due to social distancing. At the end of the June month there was some evidence of stockpiling of goods such as toilet paper, flour, rice and pasta. At the aggregate level, stockpiling is most evident in Victoria.
- Household goods retailing fell in June 2020 although remains 23% above June 2019 levels.
- Department stores saw a significant fall after a large rise in May 2020 in seasonally adjusted month-on-month terms.
The data is supported by AlphaBeta’s real-time economy tracker, which has recorded a big lift in spending on the back of stimulus and early superannuation withdrawals:
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