Retail spending continues to fall as the economy weakens
Retail spending continues to fall as the economy weakens
15 May 2024
Stats NZ data for April recorded a 0.7 percent drop in core retail spending, compared to March.
That's 40 million dollars less spending.
ASB Senior Economist Mark Smith says the cost of living pressures are driving down non-essential purchases.
He says people are spending around 70 extra dollars a week on the necessities, so they have less to spend on what they don't need.
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