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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
NEW ZEALAND
The value of electronic card transactions in August rose 0.9% m/m after falling 0.9%. It rose 5.2% y/y up from 4.8% but at the average of the last four months. Retail spending rose 0.7% m/m to be up 3.4% y/y after 2.8% y/y and in line with annual growth in recent months. Services spending rose a solid 3.5% m/m. The Q3 retail average is up 0.6% q/q suggesting that nominal retail sales may rise this quarter but the annual rate is still likely to slow further. But these series all include prices and the largest driver of spending in August was fuel (+13.5%) which saw higher pump prices in the month.
NZ card spending y/y%
Source: MNI - Market News/Refinitiv
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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