Online retail sales rebound
Online retail sales have rebounded, despite consumers worrying about the spending cuts announced in the federal government’s tough budget.
The National Australia Bank Online Retail Sales Index rose 0.2 per cent in May, recovering from a small decline in April.
Total online sales for the year to May were $15.3 billion.
NAB chief economist Alan Oster said online sales of groceries, alcohol, electronic games and toys continued to be strong in May.
However, fashion, department and variety stores and homewares and appliances experienced weaker growth.
Growth in media also fell to a record low.
Separate surveys of consumer confidence have showed Australians are worried about the impact the budget’s spending cuts will have on their household budgets.
Advertisement
Finance News
Gas import ‘madness’ for a big export nation
Finance News
Shortage of electricians sparks training plans
Finance News
Voice data used for ads sparks privacy fears
Finance News
Tips to save on petrol as bowser squeeze worsens
Finance News
Buyers eye affordable areas amid price growth
Finance News
Our most popular cars as insurance costs rise
Finance News