Local retail follows national decline

Submitted 11/08/2009

Migration for Business Growth

 

Figures released by the Australian Bureau of Statistics reveal a decline in local retail trade.

Retail turnover in South Australia for June 2009 was 1.5 per cent lower (seasonally adjusted) than the previous month's figures.

This compares to the national retail turnover which had a 1.4 per cent decrease during the same month.

Business SA Chief Executive Officer, Peter Vaughan, said the figures indicated that there are still many challenges remaining.

"South Australia's retail sector has been performing well and this month's decline is in line with the national trend," said Mr Vaughan.

"The data confirms however that there is still an enormous amount of pressure being felt in the current climate."

"Stimulus payments have dried up following solid retail performance in the previous months."

"There is the expectation that unemployment will continue to rise and this is providing a concern to business."

"Many challenges remian in place and banks should not be increasing their interest rates against the position of the Reserve Bank"