New Zealand spent much of Q3 in some form of lockdown or another - mainly in the largest city, Auckland.

New Zealand Retail sales for Q3 -8.1% q/q

  • expected -10.5% q/q (lockdown impact), prior 3.3%

And, for the y/y, -5.2%

  • prior 33.3% y/y (the y/y in Q2 was also lockdown impacted)

The focus in NZ this week is the Reserve Bank of New Zealand policy announcement on Wednesday: