6 Aug 2013

June retail sales flat in Australia

11:04 am on 6 August 2013

The value of Australian retail sales was flat in June.

Latest figures from the Australian Bureau of Statistics show retail turnover was unchanged in June at $A21.8 billion, following a seasonally-adjusted 0.2% rise in May.

Economists were tipping an increase of 0.4%.

The ABC reports turnover at cafes and restaurants rose by almost 1%, while sales of clothing, footwear and accessories all fell.

National Australia Bank senior economist David de Garis said very low interest rates were failing to stimulate key parts of the economy.

''Retail trade is roughly one-third of total consumer spending, so that is a large segment and to that extent, the June figures are somewhat disappointing," he said.