Consumer confidence fell deeper into pessimistic territory in December with losses across all five composite indices, retreating from the level recorded in November and suggesting retailers will continue to face headwinds in the lead up to Christmas. Both traditional and online retail sales for October (the latest reported) retreated from the growth reported in August and September, with traditional sales flat and online sales falling by 1.4%.
Source: Westpac – Melbourne Institute Consumer Sentiment Index
Source: Australian Bureau of Statistics
Online retail sales