Australia: Online Retail Sales Index contracted -0.5% in January - NAB

Sandeep Kanihama FXStreet Contributor

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.

Key Quotes

“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.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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