Australian retail turnover rose 0.3 per cent (seasonally adjusted) in February 2024, according to figures released today by the Australian Bureau of Statistics (ABS).
This followed a rise of 1.1 per cent in January 2024 and a fall of 2.1 per cent in December 2023.
Ben Dorber, ABS head of retail statistics, said: "Seven sold-out Taylor Swift concerts in Sydney and Melbourne boosted retail spending this month, with over 600,000 Swifties flocking to these events. This led to increased spending on clothing, merchandise, accessories and dining out."
"Looking past the temporary and one-off impact of the Taylor Swift concerts, underlying growth in retail turnover was up only 0.1 per cent in trend terms. After a period of higher volatility from November through to January, underlying spending has stagnated."
