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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
April card spending data were robust for the second consecutive month. Total card spending rose 1% m/m to be up 9.8% y/y after 2.3% and 16.1% in March. On the retail side, spending rose 0.7% m/m again to be up 7.7% y/y. While the series are nominal and so currently include a large inflation component, they are showing solid spending growth in NZ with rising 3-month momentum, but also signal an easing in retail sales growth going forward.
- Stats NZ is reporting that the rise in card spending was driven by consumables (+2.3%) and durables (+1%) and that other categories fell, including services.
NZ retail sector 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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