Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Lockdowns push retail sales down 1.7%

By Aaron BellMarket OverviewSep 28, 2021 15:34
au.investing.com/analysis/lockdowns-push-retail-sales-down-17-200488006
Lockdowns push retail sales down 1.7%
By Aaron Bell   |  Sep 28, 2021 15:34
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

Australian retail turnover fell 1.7% in August 2021, seasonally adjusted, according to figures released today by the Australian Bureau of Statistics (ABS).

This was the third consecutive monthly fall in turnover following falls of 2.7% in July 2021, and 1.8% in June 2021.

The fall was strongly impacted by continued lockdowns in Victoria, NSW and the ACT.

NSW fell 3.5% to its lowest level since April 2020, while Victoria fell 3.0% after lockdown began on August 5th.

The ACT's restrictions on non-essential retail workers led to a 19.9% fall.

ABS Director of Quarterly Economy Wide Surveys, Ben James, said that results from August directly linked to lockdowns.

"Retail turnover continues to be negatively impacted by lockdown restrictions, with each of the eastern mainland states experiencing falls in line with their respective level of restrictions," Mr James said.

"In direct contrast, states with no lockdowns performed well with Western Australia and South Australia enjoying strong rises as physical stores were open for trade."

ABS  RETAIL.JPG
ABS RETAIL.JPG

Source: ABS

With no lockdown restrictions in place for the month of August, retail turnover in South Australia rose 6.6%, bouncing back strongly from a lockdown in late July.

Western Australians continued to enjoy relatively few restrictions, with the state’s retail sales rising by 2.8%.

Sales of discretionary goods, such as clothing and footwear (15.7%), sales at cafes and restaurants (7%) and from department stores (10.2%) dropped sharply.

Tunoverbyind..JPG
Tunoverbyind..JPG

Source: ABS

A report from Barclays (LON:BARC) Australia predicts another fall in retail turnover in September, before bouncing back in October.

The report stated that lockdowns would continue to weigh on sales, with private consumption likely to drag third-quarter GDP into contraction.

"September sales are likely to continue to drop, as the impact from the lockdowns worsens with time," Barclays economists said.

"However, once the restrictions are eased, we expect a jump in retail sales, similar to the trend seen after Victoria reopened in October-November 2020.

"As salary-income growth remains slow despite the still-robust labour market, we think pent-up demand will see households dip into savings, which remain high."

"Lockdowns push retail sales down 1.7%" was originally published on Savings.com.au and was republished with permission.

Lockdowns push retail sales down 1.7%
 

Related Articles

Lockdowns push retail sales down 1.7%

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email