Recent reductions in the cash rate and tax incentives failed to boost consumer confidence, with the index falling 4.2% in July to 96.5, the lowest reported level in two years on the back of concerns around the economy and personal finances over the coming year. While online sales grew 3.6% in May (offsetting the fall recorded in April), traditional retail sales grew by only 0.1% over the same period.
Retail sales
1 month
3 months
12 months
3 months
12 months
0.1%
0.3%
2.4%
0.3%
2.4%
Source: Australian Bureau of Statistics
Online retail sales
1 month
3 months
12 months
3 months
12 months
3.6%
2.8%
6.9%
2.8%
6.9%
Source: NAB Online Retail Sales Index
Consumer confidence
1 month
3 months
12 months
3 months
12 months
(4.2%)
(4.2%)
(9.0%)
(4.2%)
(9.0%)
