New Zealand’s electronic card retail sales rose to -0.4% month on month in September, from -0.9% in August. The reading still indicates a contraction in activity, but the pace of decline eased over the month.
Softer Pullback in Retail Spending
The data point to a softer pullback in card-based retail spending as the September figure moved closer to flat growth.
Market Implications and Outlook
Markets will assess whether the improvement persists in subsequent releases, as signs of stabilisation could influence expectations for domestic demand and the policy outlook.
