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27 Dec 2024 1:01
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      Home > News > Business

    Migration, mortgages and tourism trends are continuing to hit the retail sector

    Migration, mortgages and tourism trends are continuing to hit the retail sector


    Latest Stats NZ figures show card spending was down 1.1 percent in October, and 5.6 percent in September, compared to the same months last year.

    Spending isn't expected to pick until next year.

    ASB Chief Economist Nick Tuffley says high mortgage rates will limit Christmas spending.

    Tuffley says slowing migration and flattening tourism arrivals mean we aren't getting the same momentum of people walking around and spending.

    © 2024 Newstalk ZB, NZCity

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     26 Dec: New Zealanders are making healthier choices when it comes to alcohol according to industry groups
     26 Dec: Retailers are hoping new consumer confidence numbers will deliver a fruitful Boxing Day
     25 Dec: Kiwis' habits are changing, when it comes to choosing a festive fizz
     25 Dec: Japan is serious about its unique Christmas traditions. Here's how they came about
     25 Dec: As John Stonehouse's web of deceit unravelled, he faked his death in Miami
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    Kiwis have held a tighter grip on the purse strings this Christmas More...


     Today's News

    		 Accident and Emergency:
    Two boaties had to be winched from a Fiordland river after a Christmas Day boat ride almost turned deadly 21:57

     Accident and Emergency:
    The search for a man who swam away from police during a chase in the Bay of Plenty has been stood down for the night 21:17

     Boxing:
    Prayers and tears mark 20 years since Boxing Day tsunami that claimed 230,000 lives 20:17

     Environment:
    The gun has been fired under clear skies for the start of the Sydney to Hobart yacht race 18:57

     Soccer:
    Manchester City manager Pep Guardiola believes a lack of pre-season training is the major reason his team has been decimated by injury 18:37

     Cricket:
    The spirit of Christmas has done nothing to improve Virat Kohli's temper 18:07

     Law and Order:
    Friends and family of a man who swam away from police during a chase have gathered near the Port Ohope wharf waiting for news of their missing loved one 17:27

     Soccer:
    Tottenham manager Ange Postecoglou Ange Postecoglou denies he's an angry man, but is keen for the media to stop asking him the same questions ad nauseam 17:27

     Boxing:
    Contrasting half centuries from the Australian openers have blunted the Indian attack on Day One of the Boxing Day test in Melbourne 17:07

     Basketball:
    The Philadelphia 76ers have upset defending NBA champions the Celtics 118-114 in Boston, while out west 31 points from LeBron James has led the LA Lakers to a 115-113 win over Steph Curry's Golden State Warriors 16:57

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