By Poppy Johnston in Canberra

Australia’s retail trade rebounded in January, lifting 1.1 per cent over the month after a 2.1 per cent fall in December.

In November, the Australian Bureau of Statistics recorded a 1.5 per cent rise in retail trade.

ABS head of retail statistics Ben Dorber said the rebound in January follows a sharp fall in December as Black Friday sales pulled spending forward to November.

“Retail turnover is now back at a similar level to September 2023,” Mr Dorber said on Thursday.

But when looking through the volatility of the past few months, retail turnover was unchanged in trend terms, reflecting a still high cost of living and elevated interest rates.

“This means there has been no growth in retail turnover when we look through the volatility of the past few months,” Mr Dorber said.

“Rather, spending patterns have shifted because of changes in seasonality around Black Friday as consumers took advantage of discounting in response to cost of living pressures.”

Clothing, footwear and personal accessory retailing recorded the largest rise, up 2.4 per cent, with all categories lifting over the month apart from food retailing, which fell a modest 0.1 per cent.

The bureau also reported new business investment data, with private new capital expenditure up 0.8 per cent in the December quarter of 2023 and 7.9 per cent higher than a year ago.