Retail rise as building growth declines

Submitted 4/08/2009

Migration for Business Growth

 

Figures released by the Australian Bureau of Statistics reveal a rise in local retail trade, while building approvals suffered a hit, according to the State's leading business organisation, Business SA.

Retail tureover in South Australia for May 2009 was 1.8 per cent higher (seasonlly adjusted) than the previous month's figures.

This compares to the national retail turnover which has a 1.0 per cent increase during the same month.

Business SA Chief Executive Officer, Peter Vaughan, said the figures indicated that the local retail sector was remaining strong,

Building approvals figures were not as positive, wiht South Australia following the national trend with a decrease in May 2009.

Data revealed that South Australian building approvals decreased by a seasonally adjusted 17.5 per cent in May. The decrease was in line wiht the national trend which saw a decrease of 12.5 per cent.

Approvals for private housing in South Australia decreased by 15.5 per cent, while national figures saw a 2.0 per cent decrease.