Economic data and research

We use a range of research to understand the local economy and businesses in the City of Port Phillip.

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City of Port Phillip economic profile

The quarterly economy overview offers insights into how people spend their time and money in the City of Port Phillip. These snapshots help businesses make data-driven decisions, refine strategies, and enhance their offerings.

Data is sourced from CommBank Council iQ, economy.id, Australian Bureau of Statistics, and Council collected data.

Economic snapshot

January to March 2025

Resident spend

What residents are spending on?

Total spend

$1,100.04 million spent by City of Port Phillip residents (-$58.6M on previous quarter)

Highest spend categories

Supermarkets ($116.71M)
Other discretionary retail ($101.35M)
Department stores, clothing and accessories ($70.7M)

Highest spend growth categories

Fitness
Pet care

Business spend

Domestic resident and visitor spend within the City of Port Phillip.

Total spend

$508.95 million (-$10.27M on previous quarter).

Highest spend category

Supermarkets ($105.95M)

Highest spend growth categories

Accommodation
Department stores, clothing and accessories
Other discretionary retail

Previous economic snapshot reports

Key insights include:
- The annual trimmed mean inflation was 3.2 percent in the December quarter, the lowest in three years, down from 3.6 percent in the September quarter (ABS).
- The unemployment rate (Victoria) was 4.4 percent in December, the highest of any state or territory. The national rate was 4 percent (ABS, seasonally adjusted).
- Job vacancies (Victoria) decreased by 2.2 percent in the three months to November 2024, following a 5.3 percent fall over the quarter to May 2024. Western Australia was the only other state or territory to record a fall (-0.1%) (ABS).
- Retail turnover rose in all states and territories. Victoria recorded a 0.7 percent rise in retail turnover in October and 0.8 percent in November. Australian retail turnover rose 0.5 percent in October and 0.8 percent in November (ABS, seasonally adjusted)
- "Black Friday sales events proved once again to be a big hit, with widespread discounting and higher spending across all retail industries” (Robert Ewing, ABS, November 2024).
- Household spending in November rose in all states and territories expect for Tasmania and the ACT. The strongest increases were in Queensland (+0.7 percent) and Victoria, South Australia and Western Australia (+0.5 percent) (ABS, seasonally adjusted).
Full report: Economy snapshot for October to December 2024

Acland Street Precinct Prospective Business Hub

Acland Street Precinct Prospective Business Hub is an initiative aimed to influence the retail mix within the precinct and position it as an attractive investment opportunity for prospective businesses.

Acland Street Precinct Business Hub