Retail trade figures down 12.6% in Victoria

author-avatar By on September 23, 2020
Retail trade figures down 12.6% in Victoria

Photo by Harry Cunningham on Unsplash

Retail trade in Australia fell 4.2% in August amid tough stage four lockdowns in Victoria.

This is according to figures released today by the Australian Bureau of Statistics (ABS). 

"The result was driven by a fall of 12.6 per cent in Victoria," said Ben James, Director of Quarterly Economy Wide Surveys.

"Victoria saw large falls across all industries except food retailing, as Stage 3 and 4 restrictions saw many businesses unable to trade from their physical stores in August."

While the falls were largest in Victoria, there were also falls in most other states. Retail trade across the rest of Australia (excluding Victoria) fell 1.5% from July 2020 to August 2020, suggesting the initial COVID shopping boom has ended. 

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Household items led much of the decline in trade figures but still remains 20% above the levels of August 2019.

Clothing, footwear and personal accessory retailing, department stores, and cafes, restaurants and takeaway food services all had large falls, to be expected considering Victoria's lockdowns. Food retailing also recorded a small fall. 

The results come off the back of a higher than expected 3.3% rise in July and three months of extreme volatility that led to two record monthly gains and one record monthly decline of 17.9%.

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Source: ABS


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author-avatar
Emma joined Savings.com.au as a Finance Journalist in 2019. She is a journalist with more than five years experience across print, broadcast and digital media, with previous stints at Style Magazines, 4ZZZ radio, and as editor of The Real Estate Conversation. She's most passionate about improving the financial literacy of young women and millennials by writing about complex financial topics in a way that's easy for the average Joe (or Jill) to understand. When she's not writing about finance she's watching Greys Anatomy (again).

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