NZ Treasury: Retail sales rebound strongly in the quarter
|New Zealand’s (NZ) Treasury is out with its Weekly Economic Update, with the key highlights found below (via Reuters).
Retail sales rebound strongly in the quarter, experienced their highest growth on record.
Annual GDP was revised up by $7.9 billion in the year to March 2020 relative to the previously published quarterly data
Card spending has shown a steady recovery in November after some volatility.
The number of people receiving income support continues to fall.
Market reaction
The New Zealand dollar is drawing bids on the upbeat weekly update from the Treasury and a solid jump in the Chinese Industrial Profits data.
The NZD/USD pair was last seen trading at 0.7011, up 0.09% on the day. The pair flirts with the highest levels since June 2018 reached at 0.7016 on Thanksgiving Day.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.