Report reveals NT retail decline
A DROP in the purchase of cosmetics, pharmaceuticals and toiletries has driven a 0.8 per cent decline in Territory retail sales.
The Northern Territory’s Department of Treasury and Finance released their latest retail trade report on Thursday.
It showed retail trade in the Territory decreased by 0.8 per cent to $258 million in October 2018 compared to the previous month.
The decrease was driven by household goods (down 5.1 per cent); pharmaceutical, cosmetic and toiletry (down 16.8 per cent); cafe, restaurants and catering services (down 3.3 per cent) and other recreational goods (down 19.7 per cent).
This was partly offset by an increase in: food retailing (up 2.3 per cent); and newspaper and books (up 7.7 per cent), while clothing, footwear and accessory spending remained unchanged.
The report also showed the NT reported the largest monthly decrease in retail trade in Australia compared to other jurisdictions.
The monthly change in trend retail trade ranged from a 0.1 per cent decline in New South Wales to a 0.4 per cent increase in Victoria and a 0.5 per cent increase in Queensland.
Overall retail trade turnover across Australia increased by 0.2 per cent to $27.0 billion.
However, there was some more positive news for NT retailers in the yearly reports.
It showed in the year to October 2018, retail spending in the Territory increased by 0.7 per cent to $3.2 billion.
The Territory recorded the second lowest change of the jurisdictions.
Meanwhile nationally, retail spending increased by 2.9 per cent to $319.2 billion over the same period.
The Territory’s year-onyear increase was driven by increased spending on all categories with the exception of pharmaceutical, cosmetic and toiletry (down 10.5 per cent).
The category that contributed the most to the year-onyear growth was food retailing (contributing 0.57 percentage points).