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INSIGHTS, TRENDS AND CASE STUDIES

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.

This month we continue our podcast series to accompany the NAB Cashless Retail Sales Index. It’s a short, 10 minute podcast, designed to give you a quick summary of the major drivers of the index this month. To listen, just click the link below.

Online sales growth faster over the month, slower for the year.

The NAB Cashless Retail Sales Index rose 0.6% in November on a month-on-month basis, repeating its 0.6% (revised) increase in October.

Total NAB customer spending grew 7.0% y/y in Q3 2018 – up from 5.6% in the previous quarter and 3.0% in the same quarter a year ago.

With the busy festive shopping period approaching and a shiny new $50 note in circulation, it’s important for business operators to be aware of the security features on Australian banknotes.

In seasonally adjusted terms, at 0.3%, online retail sales slowed in September. The 12 months to growth rate is also slower.

The business conditions index rose by 2pts to +15 index points in August, recovering some of the ground lost in recent months. Business confidence fell 3pts to +4 index points and is now below average.

Online sales growth on par with June, faster over the year

Total NAB customer spending grew 5.6% y/y in Q2 2018, down from 6.8% in the previous quarter and 3.9% in the same quarter a year ago. It grew faster in metropolitan (6.5%) than regional (5.1%) areas.

Consumer anxiety up steeply in Q2. Overall spending tightens as concerns about the economy and our household financial positions grow. Spending on utilities a key expense, and growing.

The global boom in SMEs in a world hungry for quality Australian goods and services is creating opportunities for local businesses prepared to look beyond their own backyard.

The business conditions index fell by 2pts to +12 index points in July, continuing its run of declines since April. Business confidence ticked up 1pt to +7 index points, an around average level.

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