Victorian Retail Spending Booming

04 June 2018

In yet another sign of a strong economy and strong consumer confidence, Victorian retail trade growth was the highest of all states in the year to April 2018.

New data released today by the Australian Bureau of Statistics shows Victorian retail trade has grown by 4.7 per cent over the year, or $310 million – well above the national average of 2.6 per cent.

Victorian results were 1.1 per cent higher than New South Wales (3.6 per cent) and 1.9 per cent higher than Tasmania (2.8 per cent).

Over the year to April, Victorian retail turnover totalled $80.5 billion – making up more than a quarter of national retail turnover (25.6 per cent).

Retail trade also grew by $23.9 million across the State in April, contributing to bumper retail growth throughout the year.

Key drivers of annual retail growth are ‘other retailing’ including pharmaceutical goods (8.5 per cent), ‘household goods retailing’ (5.5 per cent), and ‘food retailing’ (4.8 per cent).

Quotes attributable to Treasurer Tim Pallas

“This continues the good economic news for Victoria, which is good for local jobs and good for local businesses.”

“Since we were elected in November 2014, we have created more than 320,000 jobs for Victorians – ensuring more Victorian families have the security of an income, and money to spend at our retailers.”

Reviewed 19 August 2020

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