Online spending growth stalls

 

computer, laptop, onlineOnline retail spending growth stalled in August, reflecting mixed business conditions for some parts of the sector.

National Australia Bank’s (NAB) online retail sales index fell by 0.1 per cent in August, seasonally adjusted.

In the year to August, online sales were up 9.6 per cent to $14.2 billion.

“Rates of growth were particularly weak in daily deals and fashion, and muted in personal and recreational goods, homewares and appliances and toys and electronic games,” NAB chief economist Alan Oster said.

Online sales represent 6.3 per cent of traditional retail spending in Australia.

The Australian Bureau of Statistics will release retail spending figures for August on Tuesday.

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