Analysts at Westpac offer a sneak peek at what to expect from New Zealand’s Retail Sales data due to be reported later this week.
“NZ Q2 real retail sales Aug 22, Last: +0.7%, WBC f/c: -0.3%, Mkt: +0.2%
Retail spending rose by 0.7% in the March quarter. That followed solid gains over 2018. Increases in spending were seen in many categories.
Mid-2019 has seen only muted gains in monthly gauges of spending. That’s consistent with the falls in consumer confidence and ongoing weakness in the housing market. Petrol prices also pushed higher over the quarter, constraining spending in other areas.
We’re expecting that the June quarter report will show that nominal spending growth was subdued over Q2, with volumes down slightly. Price growth is expected to remain limited (other than petrol).”
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.