Select a page

Banking News

Some retailers doing it tough, others tracking well

Some retailers doing it tough, others tracking well

(27 June 2012 – Australia) Using data from credit, debit and Eftpos transactions processed through ANZ merchant systems, the bank has released its Small Business Sales Trends for May. The report showed small business sales rose steadily in May, up 6.9 percent year on year and 3.8 percent on a year-to-date basis.

Data continued to show divergences between retail-related industries, which were up 1.4 percent year-to-date, while non-retail sectors were up 5.5 percent.

Nick Reade, ANZ General Manager of Small Business, said: "As we’ve seen over the last year or so, some small business sectors are continuing to experience difficult business conditions, while others are tracking along reasonably well.

"For example, the trades, business services and automotive industries have all seen good growth on a year-to-date basis, up 4.2 percent, 5.9 percent and 7.8 percent respectively.

"This data also reinforces what we’re hearing from our customers in these areas, who have said they are beginning to see an increase in work coming through.

"We’re also seeing differences in growth rates across the states and territories continue. After some recent patches of weakness, small businesses in New South Wales and Victoria appear to be improving, with sales increasing by 3.4 percent year-to-date and 3.8 percent year-to-date respectively."

He said the bank is seeing some small businesses such as traditional retailers doing it tough. He said they are hoping to see the May and June interest rate cuts further supporting the business sector.
East & Partners's avatar

Comment on this article


Your comments will not be published. Required fields are marked *


Please enter the word you see in the image below:


Subscribe to our mailing list

Sign up now to keep up-to-date with the latest
market news and insights in B2B banking.

* indicates required

For more information please read our Terms and Conditions and Privacy Statements.