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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
NZ card transactions continued to recover in January with the total rising 2% m/m to be up 3.2% y/y but the retail component softer up 1.7% m/m to be only +0.9% y/y. January unwound the December drop in retail sales though and 3-month momentum turned positive but the level is less than a percent higher than the H2 2023 average. Card spending is soft but looks to have troughed and may be tentatively recovering after a period of unchanged rates in line with improving consumer confidence.
- Core retail sales were stronger rising 1.9% m/m with durables up 1.8% and apparel +3.1%.
- Non-retail card transactions ex services rose 2.7% m/m but services fell 0.4%. Hospitality spending rose 1.9% y/y.
NZ card transactions y/y%
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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