New Zealand Card Spending for December. Retail -0.8% m/m (vs. expected +0.1%)
NZ data - Card Spending for December … misses
Total card spending -0.6% m/m (prior +1.0%)
Retail card spending -0.8% m/m (expected +0.1%, prior +2.6%)
- spending in the core retail industries fell 0.9 %
Card spending covers just under 70% of core retails sales in NZ and provides the main measure of retails sales monthly.
Not a great report then, and for December too … but NZD not phased, up a few tics.