New Zealand data again, earlier we got:
- NZ manufacturing PMI for July: 51.2 (prior 52.8)
- NZD traders - Fonterra has cut its 2017/2018 farm gate milk price
- (and some Friday giggles from the RBNZ: I think the RBNZ is trolling the algos with a 'managed exit' tweet)
And now, this from Stats NZ
Card Spending Retail +0.7% m/m for a nice beat
- expected 0.5% m/m, prior 0.8%
- For the y/y, +4.5%
Card Spending Total 0.5% m/m
- prior 0.4%
--
The point about this data point is that electronic card spending accounts for nearly 70% of core retail sales in New Zealand
