NZ consumers still opening their wallets; govt's cut beats forecast

Fri, 10 Jul 2020

A solid jump in retail spending and higher-than-forecast sales tax revenue point to consumers being in good heart. Seasonally adjusted retail card spending jumped 16.3 percent in June compared to May when it spiked 78.9 percent from the lockdown month of April, Stats NZ figures show. Core retail spending – which strips out expenditure on fuel and vehicles - was up 15.3 percent from May when it was climbed 72.6 percent. Actual retail spending hit $5.7 billion in June, up 8 percent from a year earlier, and the highest level since January....

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