Retail rate holds steady amid cost of living crisis in Australia 

The Australian retail turnover rate is holding steady, according to new figures from the Australian Bureau of Statistics.

The retail turnover in July was around $36 million, which was the same amount spent in June, according to the ABS.

Ben Dorber, ABS head of retail statistics, says the figure comes after a 0.5 per cent growth in spending throughout June and May. 

While the overall rate is steady, some industries experienced a drop in spending.

Clothing, footwear and accessory retailing dropped by 0.5 per cent, followed by a drop in people shopping at department stores at 0.4 per cent.

Spending at cafes, restaurants and takeaway places dropped by 0.2 per cent.

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