Business sales have seen the longest period of uninterrupted growth since the GFC. according to CommBank’s April Business Sales Indicator (BSI).

The April BSI shows sales growing at a slower, but more sustainable pace, with monthly spending growth easing from 0.8 per cent in February and March, to 0.5 per cent in April.

Similarly, the annual growth rate has slowed to 9.5 per cent, down from 10.2 per cent in March.

NSW overtook Queensland to lead the nation with trend sales growth of 0.7 per cent. The ACT was the only region to experience a decline.

Despite uncertainty in the lead up to the Federal Budget, consumers continued to spend, boosting turnover in 11 of 19 industry sectors.

Craig James, chief economist at the bank’s broking subsidiary CommSec and author of the BSI report, said that positive economic conditions will continue to create a solid foundation for future growth.

“The economy has outperformed government forecasts, with lower than expected unemployment and higher than anticipated levels of economic growth,” said James.

Now that pre-budget jitters are out of the way, a low interest rate environment, employment growth and lifting home values should continue to support spending growth in 2014.”