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Unlike most other countries, New Zealand does not publish it’s consumer confidence data on a monthly basis. We only get that information once each quarter. So, in order to get a better view of the changes in consumer sentiment, analysts turn to proxies. These are other data sets that reflect how willing New Zealanders are to spend.
Chief among them, and therefore likely to be the most important data point for New Zealand this week is tomorrow’s Electronic Card Retail Sales. Sometimes it causes the market to change course. It could be especially relevant this time around since the RBNZ is trying to spur consumer spending and credit by cutting the rates.
We could expect to see expansion in electronic card transactions if the central bank’s policy changes are reaching their goals.
What We Are Expecting
Expectations are for Monthly Electronic Card Retail Sales to decline by -0.1%. This would b...
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