A wobble lower for con con in New Zealand - lockdown will have played a role here of course.
ANZ comments that I found of note in their report:L
- It's a shot across the bow for a retail sector that has been enjoying extremely strong demand. However, some of it may also reflect supply problems - for many durables supply is limited and delays common. And prices are rising. The fall has been particularly pronounced amongst younger adults, who have lower job security generally (and less housing wealth). But some of it may also reflect rising mortgage rates. This series will be key to watch for gauging momentum in the economy as the year progresses.
- CPI inflation expectations were steady at 5.1%, remaining extremely high versus a more typical historical reading of around 3½%.