While unemployment may be elevated and the AUD lower, it seems Australians, for the moment, are continuing to spend up big on the internet. According to the latest NAB online retail sales index total sales rose by 9.6% to $16.9 billion in the year to April 2015. That figure represents approximately 7% of total retail sales, up from 6.6% a year earlier. Here’s NAB’s economist Alan Oster on the findings of the report. “Comparable year growth in traditional bricks & mortar retail (up 5.3% in March) was still outpaced by the improvement in online retail (8.2%). That said, recent online growth has been more subdued than the 20-30% year-on-year growth rates recorded in earlier years. In April the seasonally adjusted month-on-month change was 1.5%. At 0.6%, the trend estimate for online retail sales is unchanged relative to March and February.
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