Retail shows signs of recovery
Retail sales are showing signs of a recovery following 18 months of easing sales growth, according to latest figures from Australia's peak food and grocery body.
Sales revenue across the country's retail sector grew 4.6 per cent to $26.4 billion during June compared to a year ago, a retail index produced by the Australian Food and Grocery Council (AFGC) and pallets business CHEP shows.
This follows 18 months of softening growth, including a 2.6 per cent rise to $25.7 billion in March.
The AFGC-CHEP Retail Index is up 3.6 per cent for the June quarter compared to a year ago - stronger than the 2.8 per cent increase during the March quarter.
It also shows the recovery is expected to continue, with sales turnover forecast to rise 4.2 per cent in August and 4.1 per cent during the September quarter.
AFGC chief executive Tanya Barden says the index shows the retail sector is set for a modest recovery and is a good indicator of what to expect on Friday when the country's official retail trade figures are released.
"We have seen food retail spending, in particular, pick up and fill some gaps from weaker non-food retailing, with catered food driving most recent improvements," Ms Barden said.
"Household goods have been the best performer for non-food retailing."
The AFGC-CHEP index uses data from CHEP pallet movements and is produced by consultancy Deloitte.
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