In seasonally adjusted terms, at 0.3%, online retail sales slowed in September. The 12 months to growth rate is also slower.
Small and Medium Enterprise (SME) business conditions edged lower in Q3 2018 to +11, while SME business confidence fell to +2pts. While conditions have eased over the past two quarters, they remain well above average, though confidence has declined to below average levels.
The NAB Cashless Retail Sales Index gained 0.2% in September on a month-on-month basis, its weakest result since April this year. Five out of six major categories grew in the month; while other retailing contracted.
The lure of cash remains, even as younger Australians embrace cashless payments.
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