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11 Sep 2018

NZ: Retail card spending saw a solid lift in August – ANZ

Liz Kendall, Senior Economist at ANZ, notes that New Zealand’s retail spending on electronic cards increased 1.0% m/m in August (seasonally adjusted), following a downwardly-revised 0.2% m/m lift in July. 

Key Quotes

“Retail spending was again boosted by a 4.1% m/m increase in fuel spending, likely reflecting higher fuel prices.”

“‘Core’ retail spending, which strips out motor vehicle-related spending, posted a seasonally adjusted 0.7% m/m rise.”

“It’s important to view this data in context: strong growth in August comes on the back of modest growth through the first half of the year, particularly in the context of still-strong population growth.”

“But in trend terms, growth in ECT looks to have stabilised – perhaps supported by the Families Package – with the trend in retail and core spending up 0.6% and 0.4% m/m in August respectively.”

“We will be looking to see resilience in spending in coming months, given concerns about the strength of economic momentum into the second half of the year.”

Sep 11, 2018

AUD/NZD should recover to 1.11 by year-end - Westpac

Sean Callow, Research Analyst at Westpac, points out that the AUD/NZD rallied above 1.11 in response to the RBNZ’s dovish MPS on 9 Aug as it lowered i
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Sep 11, 2018

Breaking News: Mexico open to sign a bilateral trade deal with the US

Mexico is open to signing a bilateral trade deal with the US if the NAFTA talks between the US and Canada fail to produce a positive result, Mexico's
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