Retail card spending 0.0% m/m (no change)

  • expected is +0.2%, prior was +1.3%
  • For the y/y comes in at +4.0% for June y/y

Total card spending +0.5% m/m

  • prior was +1.7%

From Stats NZ:

  • “Spending rose in three retail industries and fell in three during June”
  • “Fuel and hospitality had the largest rises, while durables had the largest fall.”
  • fuel, up $12 million (1.6 percent)
  • hospitality, up $3.7 million (0.5 percent)
  • durables, down $7.8 million (0.7 percent).
  • Core retail spending (which excludes the vehicle-related industries) fell 0.4 percent in June 2014
  • Trends for the total, retail, and core retail series have all generally been rising since these series began in October 2002.

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Earlier in New Zealand: RBNZ Assistant Governor McDermott: Monetary policy focus is low inflation

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NZD down just a few tics after the data