New Zealand May Electronic Card spending – Retail: +1.3% m/m (vs. expected +0.5%)

• Card spending, Retail: +1.3% m/m (vs. expected +0.5%, prior was +0.3% m/m)
• For the y/y, retail card transactions +7.6% in May y/y
• Core retail spending (which excludes the vehicle-related industries) rose 1.0 % m/m

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Total card spending +1.7% m/m

• prior was -0.4%

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Another set of strong economic data from New Zealand ahead of tomorrow’s Reserve Bank of New Zealand meeting