TREND ESTIMATES

The trend estimate of turnover for the Australian Retail and Hospitality/Services series increased by 0.4% in May 2007. This follows revised increases of 0.4% in April 2007 and 0.5% in March 2007.
In May 2007, all states and territories had an increase in the trend estimate, except Victoria which was flat. The largest increase occurred in Queensland (+0.9%).

SEASONALLY ADJUSTED ESTIMATES
The seasonally adjusted estimate of turnover for the Australian Retail and Hospitality/Services series decreased by 0.1% in May 2007. This follows a revised decrease of 0.3% in April 2007 and a revised increase of 1.1% in March 2007.
All states and territories except New South Wales (-0.3%), Victoria (-0.7%) and Western Australia (-0.1%) had increases in the seasonally adjusted estimate. The largest increase occurred in Tasmania (+1.0%).

ORIGINAL ESTIMATES
In original terms, Australian turnover increased by 3.0% in May 2007 compared with April 2007. Chains and other large retailers (which are completely enumerated) increased by 2.9%, while the estimate for ’smaller’ retailers (the sampled units) increased by 3.1%.
Australian turnover increased by 6.7% in May 2007 compared with May 2006. Chains and other large retailers increased by 7.5%, while ’smaller’ retailers increased by 5.7%.

Source ABS

Centro Properties Group (“Centro”) has announced that it has secured long term leases with department stores Myer and Harris Scarfe for shopping centres in Sydney, Adelaide and Melbourne. The retailers will anchor Centro Bankstown (Myer 10,150m2), Centro Colonnades (Myer 4,510m2) and Centro Whitehorse (Harris Scarfe 2,500m2) as part of ongoing development work at each centre.
All three centres have recently undergone significant redevelopment, with Centro Bankstown and Centro Colonnades both having recently completed major extensions. Centro Whitehorse was substantially redeveloped in 2004, and continues to benefit from the active remixing of retailers.

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