Card spending weak, more pain to come

Card spending weak, more pain to come
Rebecca Howard
The tourism and hospitality sector is sounding alarm bells about potential collapse and today’s electronic card spending data shows just how dire the situation is.Card spending on travel fell 53 percent or $66 million in March versus February. The fall is three times bigger than it was in January 2008 at the start of the global financial crisis.Spending on food and beverage services, which include cafes, restaurants, takeaway food services, and bars, fell 27 percent or $238 million in March after a 2 percent or $17 million increase in February,...

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NZIER's Shadow Board predicts RBNZ will hold, with one exception
Economy

NZIER's Shadow Board predicts RBNZ will hold, with one exception

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Rebecca Howard 08 Jul 2024
RBNZ could hint cuts may come sooner
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Rebecca Howard 05 Jul 2024
Core Crown tax revenue higher than expected in May accounts
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Core Crown tax revenue higher than expected in May accounts

Government tax intake is $1.57 billion higher than forecast, according to the latest Crown accounts.Treasury released the interim financial statements for the 11 months ended May 31 on Wednesday morning, which showed core Crown tax revenue was $111.12b.This was 1.4% more than the...

Staff reporters 04 Jul 2024