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MNI BRIEF: Aussie Retail Trade Grows Over July

(MNI) Melbourne

Australian retail turnover rose 0.5% in July 2023, up from the 0.8% decline noted over June, according to Australian Bureau of Statistics data released today.

Underlying growth in retail turnover, however, remained subdued, said Ben Dorber, head of retail statistics at the ABS. “In trend terms, retail turnover was unchanged in July and up only 1.9% compared to July 2022, despite considerable price growth over the year.”

Daniel covers the Reserve Bank of Australia and the Reserve Bank of New Zealand and leads the Asia-Pacific team.
Daniel covers the Reserve Bank of Australia and the Reserve Bank of New Zealand and leads the Asia-Pacific team.

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