The news surrounding Australia’s retail sector continues to disappoint with NAB’s Cashless Retail Sales Index for December coming in as “fairly weak”:
The NAB Cashless Retail Sales Index rose 0.9% in December on a month-on-month basis, up from a 0.4% (revised) increase in November. However, our data mapping suggests that the official ABS measure of retail sales will record a negative print in December, forecast to be down 0.3%.
