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15 Oct 2024 6:20
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      Home > News > Business

    Retailers are holding out hope the latest Official Cash Rate cut will spur people to open their wallets

    Retailers are holding out hope the latest Official Cash Rate cut will spur people to open their wallets

    14 October 2024
    Stats NZ data shows September's electronic card transactions - an indicator of consumer spending - is flat compared with August.

    Year-on-year, spending's down 135-million-dollars, or 0.7-percent.

    Retail NZ chief executive Carolyn Young says with interest rates falling, people may feel more comfortable spending on non-essentials.

    She says one retailer's been reporting Covid-like sales, so they really need to see a change in consumer confidence.

    © 2024 Newstalk ZB, NZCity


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