New Zealanders spent more in August

Tue, 10 Sep 2019

By Rebecca Howard Sept. 10 (BusinessDesk) - New Zealanders look to have heeded Reserve Bank governor Adrian Orr’s advice in August and headed out to spend. Seasonally adjusted electronic card spending lifted 1.1 percent in August after falling 0.1 percent in July. Economists polled by Bloomberg had expected a lift of 0.5 percent. Core retail spending, excluding fuel and vehicle purchases, lifted 1.3 percent after falling 0.4 percent in July. The central bank cut rates by 50 basis points to a record low 1.0 percent on Aug. 7 and O...

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