Green Shoots? Retail Rise 0.5% in May

Retail spending shows some signs of recovery, new figures show.

May ABS retail trade figures released yesterday show a “modest” 0.5% increase in consumer spending, seasonally adjusted.

This follows a rise of 0.1% in April and will have many retailers crossing their fingers that there are green shoots on the horizon after a dismal few months of flat growth.

Looking at the figures more closely, the ‘Other’ retail category, which includes tech resellers, department stores and personal accessory retailing saw a 0.5% increase.

The majority of industries recorded a rise in trading last month, according to the Australian Bureau Statistics, with cafes, restaurants and takeaway food (+1.4%) and household goods retailing (+0.8%) the main drivers of the growth… Read more

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