New Zealand - Card Spending for October - Retail +10.1% m/m (prior +0.9%)

Retail card spending up strongly in October m/m:

• +10.1% m/m from +0.9% in September
• -7.6% y/y from +14.9% in September

Total card spending +9.5% m/m from +1.6% in September

Earlier we had ANZ's 'truckmeter' indicator, where ANZ cautioned on the difficulty of reading too much into it due to lockdown impacts varying by region:

• New Zealand - ANZ's GDP proxy indicator mixed in November

NZD is little changed since both rounds of data: