NZ Card Spending (September): Retail 1.1% m/m (expected 0.6%)
Electronic card spending accounts for around 68% of core retail sales in New Zealand, hence the interest
Retail up 1.1% m/m
- expected 0.6% m/m, prior 1.0%
- For the y/y, up 5.7%
Total up 1.3% m/m
- prior 1.1%
A handy pair of beats (no, not the headphones) for NZ spending, adding to the picture of a NZ economy that, while slowing, is not going too badly.
The kiwi/USD got a nice shove higher overnight from the US dollar weakness.