Stats NZ retail spending data ‘much stronger than expected’: Westpac

Total retail spending rose a seasonally adjusted 2% to $6.6 billion. (Image: Sylvie Whinray)

Tue, 21 Jan 2025

Westpac economist Satish Ranchhod says Stats NZ’s electronic card transaction data shows retail spending was “much stronger than expected” in December. The total value of electronic card spending, including in non-retail services and other non-retail categories, rose a seasonally adjusted 1.5% to $9.23 billion in December from November, according to Stats NZ. That brought total spending in line with levels last seen in November 2023.Total retail spending rose a seasonally adjusted 2% to $6.6b and was marginally...

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