ONLINE RETAIL SALES INDEX

Online retail rebounds after two weak months with the largest spend category Homewares and Appliances being a key contributor, although sales growth for this category has been relatively weak over the past year.

Our NAB Online retail sales index data indicates that sales growth was negative in July 2019, following on from an almost flat result in June.

Our NAB Online retail sales index data indicates that sales growth was negative in June 2019, following on from strong growth in May.

Our NAB Online retail sales index data indicates a return to sales growth in May 2019, after considerable weakness in April.

The NAB Online Retail Sales Index contracted -3.8% in April on a month-on-month, seasonally adjusted basis.

The NAB Online Retail Sales Index rebounded strongly in March with sales growth of 1.7% month-on-month, after one of its worst growth rates in the series history in February.

It appears that broader weakness in retail is flowing through to online.

The NAB Online Retail Sales Index recorded -0.5% month-on-month contraction in January, following on from a -1.9% contraction in December.

Low wage growth, high personal debt levels and a weakening housing market – particularly in Sydney and Melbourne – have made consumers reluctant to spend on non-essentials.