Australia's retail revenue in July remained flat, falling below financial estimates.

Retail revenue in Australia for July 2024 fell below market expectations of +0.3%, remaining stagnant compared to the same month last year.

The retail trade of household products was flat (1.1% increase year-on-year), and other retail trades were also flat (0.9% increase).

On the other hand, the retail trade of clothing, footwear, and personal items decreased by 0.6%, marking the first negative in 3 months, while the cafe, restaurants, and takeout food retail trade experienced 3 consecutive months of decline.

Additionally, department store revenue decreased from a 0.8% increase in June to a 0.4% decrease.

By region, there was an increase in Victoria (0.1% increase), Queensland (0.2% increase), Western Australia (0.2% increase), and Northern Territory, but a decrease in New South Wales (0.2% decrease), South Australia (0.3% decrease), Tasmania (0.8% decrease), and Australian Capital Territory (0.9% decrease).

Throughout the year ending in July, retail trade increased by 2.3%, falling below the high level of 2.9% in June, which was the highest in 13 months.

Source: Australian Bureau of Statistics