Retail spending 'much weaker' than expected: Westpac economist

Westpac had forecast a 0.2% rise. (Image: NZME)

Mon, 14 Apr 2025

Westpac senior economist Satish Ranchhod says retail spending in March was "much weaker than expected".The total value of electronic card spending, including in non-retail services and other non-retail categories, fell a seasonally-adjusted 1.49% to $9.08 billion in March from February, according to Statistics New Zealand.Seasonally adjusted retail spending fell 0.8% to $6.47b compared with February. Before the Stats NZ release on Monday, Westpac had forecast a 0.2% month-on-month rise in spending after positive trends in Februar...

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