Consumers are continuing to hunker down on spending
Consumers are continuing to hunker down on spending
12 March 2024
ASB reports February card spending tanked, despite climbing prices and a strong growing population.
Recent Worldline data shows consumer spending at retail stores in February was up 1.6 percent on a year ago, below the growth rate average of 2.8 percent for the past six months.
ASB Senior Economist Mark Smith says cost of living is still biting.
He says also taking into account an uncertain outlook for employment and incomes, households aren't willing to extend themselves financially at the moment.
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