New Zealand Electronic Card Retail Sales decline -0.4% in April

Joshua Gibson FXStreet

New Zealand's Electronic Retail Sales contracted in April, falling -0.4%. The decline slowed the pace of contraction from the previous month's -0.7%, but the annualized figure decelerated further, falling -3.8% compared to the previous period's -2.3% (revised from -3.0%).

Seasonally-adjusted retail card spending totals declined to their lowest levels since August of 2022, with durables goods spending falling the furthest, declining $11 million NZD.

About New Zealand Electronic Card Retail Sales

Electronic Card Retail Sales as reported by Statistics New Zealand, measures purchases made in New Zealand on debit, credit and store cards. The figure gives hint of strength in the retail sector and influences interest rate decisions. A high number is generally positive (bullish) for the New Zealand dollar, while a weak number is seen as negative (bearish)

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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