Australia’s NAB Online Retail Sales Index contracted -0.5% in January on a month-on-month, on a seasonally adjusted basis, according to analysts at NAB.
“Though still negative, this is not as steep a decline as the -1.9% in December.”
“However, the combined drop in December and January has resulted in almost no growth from the past three months, despite the strong November result. In year-on-year terms online retail sales are still growing with the NAB Online Retail Sales Index up 7.5% (y/y, s.a.) in January.”
“Year-on-year growth is positive for seven of the eight NAB Online Retail Sales Index industry groupings.”