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1367.2 - State and Regional Indicators, Victoria, Dec 2003  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 17/02/2004   
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MEDIA RELEASE

February 17, 2004
Embargoed: 11:30 AM (AEST)
27/2004

Victoria spending higher and unemployment lower

Victorians were spending more during November 2003, as trend retail turnover continued to grow to $3.7 billion, according to a new report released today by the Australian Bureau of Statistics.

Despite being below the national growth level, Victoria's trend retail turnover grew by 2.6% during the three months to November 2003 and by 8.7% from November 2002. The national retail turnover increased by 3.0% over the quarter and by 8.9% over the year.

Victoria's trend unemployment rate for November 2003 stood at 5.2%, lower than the national average. The Victorian rate fell 0.3% during the preceding three months and was 0.5% lower than November 2002.

In trend terms, the number of Victorian dwelling units approved (4,040 units) for November 2003 increased 0.7%. This was higher than the 0.3% increase nationally. The number of Victorian dwelling units approvals were 5.6% higher than the previous year.

During November 2003, Victorian new motor vehicle sales (trend) fell by 0.3% from the previous month. However, new motor vehicle sales were up 8.0% from the sales recorded in November 2002.

The total value of Victorian building approvals, in trend terms, was more than $1.1 billion in November 2003, down 2.2% from October and 1.9% lower than in November 2002.

Despite the fall in the value of total building approvals, the value of residential building approvals in Victoria for November 2003 increased by 2.3% from the previous month and 13.4% from the same period last year.

Further details, including information on the Victorian labour force, prices, finance and natural resources, are available in State and Regional Indicators, Victoria, December Quarter 2003 (cat. no. 1367.2).

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