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.