NZ data - Card spending in July: Retail +1.1% m/m, Total up 1.0%

New Zealand - Card Spending for July … data corrections being made:

• Total card spending +1.2% +1.0% m/m vs. prior +19.1% m/m

• Retail card spending +1.2% +1.1% m/m vs. prior +16.3%

June was a post-lockdown surge.

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Card spending data covers around 68% of core retails sales in NZ. Its used as the main retail sales indicator for the country.