How are retail businesses performing across each of Australia’s states and territories?
Each quarter CommSec analyses key indicators across the Australian economy and compares current performance with decade averages, and each of the states.
According to the CommSec State of the States January report, NSW has maintained the top spot on the retail rankings with solid activity in the housing sector, lower unemployment and higher home prices continuing to support retail spending. Spending in NSW was 16.4 per cent above decade-average levels in the September quarter.
Spending in Victoria was 13.3 per cent above decade average levels, once again supported by home building and the strength in employment.
Spending in the ACT was up 11.6 per cent on the decade average, followed by Western Australia (up 10.2 per cent).
In fifth spot was Queensland with spending 9.3 per cent above decade averages.
Northern Territory recorded the weakest result on retail spending, up 5.1 per cent on the decade average, just below South Australia with 7.7 per cent growth and Tasmania with 8.5 per cent growth.
If monthly retail trade was assessed instead to calculate the rankings (November data available), the rankings would be very similar with the only significant change being that Queensland and Western Australia would trade places.
In terms of annual growth of real retail trade, the ACT is strongest (up 4.5 per cent), from Tasmania (up 3.0 per cent) and South Australia (up 2.7 per cent).