Australia: Online retail sales slowed to 1.2% in June – NAB

Brien McDonald, Senior Economist at NAB, notes that in seasonally adjusted terms, at 1.2%, Australia’s online retail sales slowed in June while the 12 months to growth rate is also a bit slower.

Key Quotes

“In the 12 months to June, Australians spent an estimated $26.5 billion on online retail.”

“Sales growth accelerated (+1.2%) in month-on-month (mom) terms in June, down from May (+1.6%, mom, s.a.).”

“Rapid growth in the Department and variety stores category continues a recent uptrend in that sector.”

“Domestic online retailer sales were up (+1.4% mom, s.a.) , while the International competition contracted slightly (-0.2% mom, s.a.)”