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. 

Need somewhere to store cash and earn interest? The table below features savings accounts with some of the highest non-introductory and introductory interest rates on the market.

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%.


Source: ABS

Latest Articles

Emma Duffy is Assistant Editor at Your Mortgage and  Your Investment Property Mag, which are part of the Savings Media Group. In this role, she manages a team of journalists and expert contributors committed to keeping readers informed about the latest home loan and finance news and trends, as well as providing in-depth property guides. She is also a finance journalist at which she joined shortly after its launch in early 2019. Emma has a Bachelor in Journalism and has been published in several other publications and been featured on radio.


Be Savings smart.
Subscribe for free money newsletters.

By subscribing you agree to the Savings Privacy Policy