The Australian Bureau of Statistics (ABS) today confirmed Victoria is Australia's leading retail state.
The most recent ABS retail sales figures show that Victoria's strong consumer confidence has translated into the strongest annual retail sales growth of any Australian state.
The state's retail sales value grew 0.5 per cent during March and 5.3 per cent during the year for an annual total value of A$73.8 billion.
The breakdown of retail trade turnover showed strong yearly growth across industry groups, including food retailing (up 4.6 per cent), department stores (up five per cent), clothing, footwear and personal accessories (up five per cent), household goods retailing (up 6.1 per cent) and café, restaurants and takeaway food (up 5.5 per cent).
Nationally, the state also has the highest annual growth in sales volume, up 3.9 per cent over the past year.
Earlier this week, both the National Australia Bank and CommSec confirmed that Victoria's strong economic health is boosting confidence throughout the state and keeping business conditions in positive territory.
The National Australia Bank reported Victoria's business confidence is the best in the nation, with confidence rising to +seven index points in April – nine points higher than this time last year.According to the latest CommSec report, Victoria's economy continues to be the fastest growing in Australia.