New Zealand – Card Spending for October – Retail +10.1% m/m (prior +0.9%)

Retail card spending up strongly in October m/m:

  • +10.1% m/m from +0.9% in September
  • -7.6% y/y from +14.9% in September 

Total card spending +9.5% m/m from +1.6% in September 

Earlier we had ANZ’s ‘truckmeter’ indicator, where ANZ cautioned on the difficulty of reading too much into it due to lockdown impacts varying by region:

NZD is little changed since both rounds of data:
Retail card spending up strongly in October m/m:

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