Research Team at NAB, notes that at 0.8% Australia’s latest seasonally adjusted NAB online retail sales index shows sales grew strongly in February, after a slight contraction in January (-0.1%). Key Quotes “At 0.6%, the trend estimate for online retail sales was slightly slower than the previous month. This suggests that looking through the month to month volatility, sales are still growing. ABS data showed growth of traditional retailers to also grow in January (0.3% mom, s.a.), and 3.1% higher than a year ago. At 10.4% over the year, growth of online retail is more than triple that of traditional retail sales. In dollar terms, we estimate Australians spent $19.2 billion on online retail in the 12 months to February 2016. This level is equivalent to 6.6% of spending at traditional bricks & mortar retailers as measured by the ABS in the 12 months to January 2016.” For more information, read our latest forex news.