Australian retail sales rose by 4.3 per cent year on year in March, continuing a positive improvement in recent months.
Australian Bureau of Statistics (ABS) data showed a rise of 0.3 per cent from February to March.
“While the steady growth is heartening, cost-of-living pressures and economic uncertainty continue to impact consumer behaviour,” said Australian Retailers Association chief industry affairs officer, Fleur Brown.
“With a delay in interest rate relief, household budgets remain tight, and retailers are operating in a highly competitive and volatile environment with rising business costs.
“Any signs of stability in consumer spending are a welcome boost to business confidence, but we remain far from a retail recovery,” said Brown.
National Retail Association interim CEO Lindsay Carroll said that premature shop closures caused by cyclone warnings undercut sales in parts of the nation, especially Queensland and NSW.
“While retail volumes were flat in the March quarter, due to payback from strong December sales, there has been a gradual recovery since the 1 July 2024 tax cuts,” said CreditorWatch chief economist Ivan Colhoun.
