In March, New Zealand's economic indicators revealed challenges in the retail sector. The Food Price Index (FPI) decreased by 0.5%, an improvement over the previous month's 0.6% decline. Seasonally adjusted electronic card retail sales fell by 0.7%, better than the previous 2.0% decrease. Year-over-year, electronic retail card spending dropped by 3.0%, contrasting with a 2.5% increase in the prior period. Total card spending slightly recovered, showing a 0.1% increase after a 1.9% decline.
New Zealand Food Prices (M/M) Mar: -0.5% (prev -0.6%) - Card Spending Total (M/M) Mar: 0.1% (prev -1.9%) - Card Spending Retail (M/M) Mar: -0.7% (prev -1.8%)
🔴 NEW ZEALAND SEES SEASONALLY ADJUSTED ELECTRONIC CARD RETAIL SALES FALL BY 0.7% IN MARCH COMPARED TO THE PREVIOUS MONTH.
🇳🇿 Electronic Retail Card Spending YoY (Mar) Actual: -3% Previous: 2.5% https://t.co/aLxmywK1E5
🇳🇿 Electronic Retail Card Spending MoM (Mar) Actual: -0.7% Previous: -2% https://t.co/aLxmywK1E5
🔴 NEW ZEALAND ELECTRONIC CARD RETAIL SALES DOWN 3.0% YOY IN MARCH
🇳🇿 New Zealand FPI (MoM) (Mar) $NZD Actual: -0.5% Previous: -0.6%
🇳🇿 New Zealand Electronic Card Retail Sales (MoM) (Mar) $NZD Actual: -0.7% Previous: -2.0%
🇳🇿 New Zealand Electronic Card Retail Sales (YoY) (Mar) $NZD Actual: -3.0% Previous: 2.5%
Heads Up:🇳🇿 Electronic Retail Card Spending YoY (Mar) due at 22:45 GMT (15min) Previous: 2.5% https://t.co/aLxmywK1E5