The Australian Bureau of Statistics has released retail trade figures for July, marking the first month of the financial year as a disappointing one.
Retail turnover remained the same at 0.0%, with clothing, footwear and personal accessory retailing and department stores recording the largest sales drops, at 2.0% and 1.9% respectively.
NRA CEO Dominique Lamb said it was important that consumer confidence is restored as the sector prepares to head into the Christmas trade period.
“There’s no need to hit the panic button just yet, but the July figures released by the ABS are certainly very ordinary.
“Retail had enjoyed three consecutive months of growth, so it is very disappointing to see the figures flatline for July.
"Consumer confidence is a little fragile at present, so the NRA would urge the RBA to keep interest rates low for the time being."
Household goods also fell 1.2%, while other retailing recorded the largest growth of the six industries at 1.7%.