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Total retail turnover (including selected services), in trend chain volume terms, grew from $29b in June quarter 1992 to $41b in June quarter 2002, an increase of 40.5% or an average growth of 3.5% per year. Strong growth occurred between June quarter 1993 and December quarter 1995 followed by four quarters of low growth. A second period of strong growth occurred between December quarter 1996 and December quarter 1999 followed by two quarters in which the trend fell. The trend has been increasing from June 2000 to the latest period, June 2002.
Explanatory Notes The retail trade series presents monthly estimates of turnover for retail businesses (such as grocers, clothing stores, department stores, etc.) and hospitality and selected service businesses (such as cafes and restaurants, hotels and licensed clubs, etc.) for each state and territory. The principal objective of the retail trade series is to show month to month movements of retail turnover. Turnover includes retail sales; wholesale sales; takings from repairs, meals and hiring of goods (except for rent, leasing and hiring of land and buildings); commissions from agency activity (e.g. commissions received from collecting dry cleaning); and net takings from gaming machines. Estimates are compiled monthly in current price terms and quarterly in chain volume terms. The retail trade series dates back to 1962 and is one of the main economic indicator series of the ABS. Retailers, industry associations, economists, government and media use these statistics in conjunction with other economic indicators to help assess current Australian economic performance. Quarterly retail trade estimates, along with other data, are used in the calculation of household final consumption expenditure in the Australian national accounts. The monthly and quarterly series are supplemented by more detailed but irregular financial year surveys. The last irregular survey was conducted in respect of the 1998-99 financial year. Further Reading Retail Trade, Australia (8501.0) Retail Industry, Australia (8622.0) Retail Industry, Australia: Commodity Sales (8624.0)
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