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Queensland's Retail Turnover Continues to Perform Well in February Despite Falls Nationally

5 Apr 2021 11:31 AM | Dr Marcus Smith (Administrator)

February's Retail Trade data for Queensland compiled by the Australian Bureau of Statistics showed robust growth over the month across most industry subgroups after a pullback in January.

Notwithstanding substantial falls in states including Victoria and Western Australia over the month, retail turnover in Queensland as well as New South Wales bucked the headline slump in sales, which fell nationally by -$237.9 million.

Queensland's February retail turnover grew by $67.6 million (+1.1%) on a seasonally adjusted basis to $6.385 billion, with a good month for department stores (+$37.6m) and clothing (+$31.1m), and despite a moderation in turnover for supermarket and grocery stores (-$67.5m) as well as liquor sales (-$13.8m) across the state.

Sales in February compared with the same month last year were $687.5 million (+12.1%) higher, with substantial increases in turnover recorded in supermarkets and grocery stores, homewares, hardware, building and gardening supplies as well as liquor.

On an annual, 12-month basis Queensland's total retail turnover to February was $74.655 billion, which is $7.752 billion (11.6%) higher than over the previous 12-month period.

Sales in supermarkets and grocery stores continued to dominate retail sales activity across the state, constituting around one-third (33.4%) of total annual turnover growth.

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