ANALYSIS VOLUME TERMS
Historical series for the chain volume measures have been revised as a result of the scope and methodological changes introduced into the current price series from the September quarter 2008.
A new base year, 2006-07, has been introduced into the chain volume estimates which has resulted in minor revisions to growth rates in subsequent periods. In addition, the chain volume estimates have been re-referenced to 2006-07. Additivity is preserved in the quarters of the reference year and subsequent quarters. Re-referencing affects the level of, but not the movements in, chain volume estimates.
The trend volume estimate of turnover for the Australian Retail series declined by 0.1% in both the September and June quarters 2008 following an increase of 0.3% in the March quarter. In seasonally adjusted terms, the volume measure increased by 0.1% in the September quarter 2008 after declining in the previous two quarters.
In trend volume terms, retail turnover increased in the Food retailing (+0.1%), Department stores (+0.3%), Clothing and soft good retailing (+0.4%) and Household good retailing (+0.1%) industries in the September quarter 2008. There was no growth in volumes in the Other retailing industry after strong growth in three of the previous four quarters. Trend volume growth has been in decline in the Cafes, restaurants and takeaway food services industry for four consecutive quarters.
In trend volume terms, retail turnover declined in both New South Wales and the Australian Capital Territory for the third consecutive quarter. There was no growth in volumes in Victoria in the September quarter 2008 while volumes in Queensland grew by 0.2% for the second consecutive quarter. Volumes in the other three states and the Northern Territory increased by at least 1.1% in the September quarter 2008. The rate of volume growth in South Australia and the Northern Territory has decreased over recent quarters while the rate of growth has increased in Western Australia and Tasmania.