Retail spending dipped marginally in July, pressures on household persist

Stats NZ releases electronic card data monthly. (Image: File)

Thu, 15 Aug 2024

Retail spending continued to ease in July, as household demand remained soft. Total retail spending fell a seasonally adjusted 0.1% to $6.4 billion while core retail spending – which excludes vehicle and fuel purchases – fell 0.5% to $5.7b. It was the sixth consecutive monthly fall for seasonally adjusted retail spending. "The continued pressures on household finances was evident," said Westpac Bank senior economist Satish Ranchhod. The total value of electronic card spending, including on non-retail se...

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