We see retail sales continuing to grow in April, albeit at a somewhat slower pace than previous months.
In month-on-month terms, our NAB Online Retail Sales Index contracted for a second consecutive month in March.
March has seen smoother retail prospects when compared to the very choppy conditions across January and February, with our forecast pointing to moderate growth in the month.
In month-on-month terms, our NAB Online Retail Sales Index contracted in February.
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2022 started slowly on account of the Omicron wave but is now really picking up, notably in areas like hospitality and clothing and footwear.
NAB’s Online Retail Sales Index returned to growth in January.
Consumers started 2022 in an understated fashion, following some big swings in late 2021.
In month-on-month terms, our NAB Online Retail Sales Index contracted again in December.
Consumers continue to power ahead across the country, with post-lockdown spending gains consolidated in our November data.
NAB Online Retail Sales Index contracted in October, following on from lockdown enhanced strong growth in recent months.
Retail conditions in lockdown-affected areas have clearly been challenging for many businesses, but with reopening here, consumers are bouncing back and spending has returned.
The NAB Online Retail Sales Index continues to exhibit considerable strength.
Reopening in NSW, soon to be followed by the ACT and Victoria, should give retail spending a good kick along in October and November.
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