Real retail spending data from NZ (i.e. retail sales excluding inflation) for the January to March quarter 2018
+0.1 % q/q (worst since Q2 of 2015)
- expected +1.0% q/q, prior +1.4%, revised down from +1.7%
That is a big miss on already lowered expectations. NZD marked down, its well under its earlier highs reached on the weekend US/China trade news (Weekend over and wondering why AUD, NZD are up?)
Migration data also published,
- permanent migration +4930 in April (+5380 in March)
- short-term visitors -9% y/y (prior +13%)
