SMALL BUSINESS

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.

Our expectation for the Australian economy is that GDP will increase by just under 3.0% in 2018 and 2019.

Vision, teamwork and a passion for producing the perfect pie have helped the Porter family transform the old Yatala Pies pie shop into a baking powerhouse.

Passion, history, ambition. There can be many reasons business owners follow their dream. We asked five company heads to explain their ‘why’.

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 NAB Cashless Retail Sales Index gained 0.9% in July on a month-on-month basis, following a gain of 0.5% in June.

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.