Australian online sales growth slows in December

The pace of online sales growth in Australia eased in December as shoppers bought their Christmas presents in November to ensure they would be delivered before the festive season, a survey released on Monday by the National Australia Bank (NAB) showed. The NAB Online Retail Sales Index showed the rate of internet sales growth eased to 23 percent year-on-year in December, down from 27 percent in November. \"This was a seasonal move, with November being the peak month for online retail sales, which allows time for goods to be delivered ahead of Christmas,\" NAB chief economist Alan Oster said. Australia\'s total online spending was around 12.8 billion AU dollars (13.36 billion U.S. dollars) during 2012, which accounted for 5.8 percent of traditional bricks and mortar retail spending excluding cafes, restaurants and takeaway food, the bank said.