New Zealand retail card spending -1.1% m/m in January, reversing December’s +0.1%. Total card spending also declined, -0.7% on the month after a 1.0% fall previously.
In annual terms, electronic retail card spending edged up 0.4% y/y.
Card spending data covers around 68% of core retail sales in NZ. Its used as the main retail sales indicator for the country.
This article was written by Eamonn Sheridan at investinglive.com.