NZ consumer spending to shrink 1.5% - Fitch

Tue, 02 Jun 2020

Fitch Solutions said it now expects consumer spending in New Zealand in 2020 will contract by 1.5 percent year-on-year.That's compared with its pre-covid-19 forecast of growth of 2.8 percent for 2020 and follows 3 percent growth in real household spending in 2019."Consumer behaviour and government measures to stem the flow of the covid-19 infection are leading to dramatically shifting purchasing patterns," Fitch said."We highlight that consumers are placing a greater focus on essential spending categories." These include...

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