Re­port re­veals NT re­tail de­cline

NT News - - NEWS - NATASHA EMECK

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).

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.