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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
Card spending in NZ continued at a moderate annual pace at the start of Q3. Electronic card transactions fell 0.9% m/m in July to be up 4.7% y/y after +1.2% m/m and 6.4% y/y the previous month. Retail spending was flat to be up 2.8% y/y after +1% m/m and 3.6% y/y in June. Q2 retail sales values and volumes are released on August 23. Retail card transactions were flat in Q2 and have started Q3 up 0.1% q/q.
- The weakness was quite broadbased but predominantly due to lower spending on fuel (-5.5%) and motor vehicles (-5.1%). Non-retail spending was also soft in July falling 3.6% m/m ex services and services down 2.9%. Hospitality spending rose 6.3% y/y.
NZ retail card transactions vs retail sales 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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