Retail trade growth falls marginally
It is expected to ease more in the coming months.
The Australian Food & Grocery Council (AFCG) CHEP Retail Index presented a 3.0 per cent growth in the March quarter year on year, but forecasts growth will ease to 2.6 per cent in the June quarter.
The Index indicates that the Australian Bureau of Statistics (ABS) will report year-on-year growth of 2.6 per cent, with $21.7 billion as turnover, in the month of March. The Index predicts that May retail trade growth will be 2.8 per cent year on year, with turnover increasing to $21.9 billion.
The ABS statistics recently showed, on the other hand, a more solid rate of year-on-year growth in food and grocery retail than overall retail sales growth. The retail growth in Food was 4.6 per cent in February 2013.
Phillip Austin, CHEP Australia & New Zealand President, said “We’re pleased to tap into CHEP’s rich data to provide a reliable and robust indicator for the retail sector which has the ability to look at both food and non-food segments across the supply chain.”
The AFGC CHEP Retail Index is a joint project between the AFGC and CHEP Australia. The project is powered by Deloitte.
