Retail Trade disappoints but we’re eating out a lot!

Retail Trade data released this morning for April shows a modest 0.2% increase on the month (seasonally adjusted). This is at, or slightly below, market expectations and comes on the back of only very modest gains in Feb and March. On a Trend basis sales are up 6% for the year. The big winner (in Trend terms) continues to be eating out with Cafes, Restaurants and Take-aways seeing 0.7% growth for the month and up 12.3% or the year. 30 years ago eating out accounted for under 10% of Retail Trade; today that figure is at a record high of 14.1%.
In Queensland the picture is somewhat weaker with the monthly data showing a 0.3% decline. The Trend data for QLD shows a 4.4% increase over the year. In the Sunshine State we like eating out even more; Cafes, Restaurants and Take-aways now account for over 15.3% of Queenslanders’ retail spend.

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