Will consumers compare credit cards to boost spending power?

By Mozo ·

Recently-published figures from the Australian Bureau of Statistics (ABS) have shown that retail turnover fell by 1.1 per cent in October this year.

The figure follows a narrow increase in the previous month, with November recording a rise of 0.1 per cent.

According to the ABS Retail Trade report, cafes, restaurants and take-away food services suffered the largest falls during the month with a decline of 4.8 per cent.

Clothing, footwear and personal accessory retailing (4.6per cent), other retailing (2.0 per cent) and department stores (1.1 per cent) also saw turnover fall.

The only sectors to enjoy a rise were food retailing and household goods with rises of 0.6 and 0.5 per cent respectively, showing that consumers are putting the home and family first.

Northern Territory suffered the largest fall (-4.9 per cent), followed by New South Wales (1.8 per cent), Queensland (1.2 per cent), Victoria (0.8 per cent), Western Australia (0.3 per cent) and South Australia (0.2 per cent).

The Australian Capital Territory (0.6 per cent) and Tasmania (0.5 per cent) were the only regions to enjoy a rise.

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