Retail food trade grows in February
Statistics released today by the Australian Bureau of Statistics (ABS) indicate that there is still a weak growth trend in retail sales. The retail food industry has seen a weak trend of growth for four months with the greatest growth experienced by the take-away food retail and supermarkets/grocery stores industries. As is customary, food retail sales fell from the figures experienced in January with sales down 5.6%. This was an improvement on last year when February sales were down 7.3% on January figures.
Importantly, food retail sales were 10.1% above the corresponding month last year, indicating that the industry is growing.