ECONOMIC COMMENTARY

NAB’s proprietary indicator of Australian retail sales, the NAB Cashless Retail Sales Index, reveals a sharp decline in spending in the month of August.

Australia’s next phase of growth must be defined by ideas, creativity and execution. Our future lies in our ability to foster a culture of innovation. But how do we measure innovation across all sizes and types of business?

In Australia, the August NAB Monthly Business Survey showed some mixed results, but is still encouraging overall.

Global growth lifts in mid-2017, heading back towards trend rate as pace of advanced economy output expansion picks up.

RBA to remove some emergency accommodation in 2018.

Business conditions are strong. Confidence takes a hit. Some signs of inflation pressure.

Seasonal conditions remain a major consideration.

Increasing household wealth (due to rising equity and house prices), as well as a high level of consumer confidence, remain tailwinds for consumer spending.

The Indian economy decelerated in the June quarter, growing by 5.7% yoy, the lowest since March 2014.

Online sales growing over the year, slight slowing in the month.

Waiting to see if goals on tax and trade can make up for failure on health reform

Skills shortage holding back Australian business.