Good News On Retail Sales

We refuse to get too excited about fractions of a percent in sales trends but  a 0.5% increase in May’s retail turnover continues a 3.3% year on year trend and is certainly positive.

All areas reviewed by the Australian Bureau of Statistics showed an increase except food retailing where a grocery price war is having an influence. Cafes, restaurants and takeaway food services along with household goods showed the biggest increase.

The retail performance in May was the strongest since June 2010.