Card spending for February, data was out at 2145GMT, just a catch-up
- Retail card spending -0.3% m/m, for a miss on the expected of +0.1% and below the prior of +1.4%. This is the first fall for this in 6 months.
- Total, +0.1%, prior +0.5%, revised from +0.6% m/m
Core spending up 0.3% m/m
I think the 'mixed bag' metaphor might be appropriate here.
- Retail sales down,
- core retail up,
- total up.
Overall not a bad result I reckon ... but still, the fall in 'retail' niggles.
The NZ economy is powering along, not quite at the pace it has been, but its still the envy of many.
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This is the major indicator used for reatail sales in NZ
- Electronic card spending accounts for around 68% of core retail sales in New Zealand