July data shows a rebound in NZ retail activity, reversing June’s decline and signaling potential economic stabilization.
New Zealand retail card spending increased 1.3% month-over-month in July, recovering from a 1.4% drop in June. The data, covering 68% of core retail sales, is a key indicator of consumer activity in the country.
Annual spending rose 3.4%, up from a 1.3% gain in the prior period. The electronic cards measure is the primary gauge of monthly retail trends, reflecting broader economic momentum.
The rebound suggests a potential easing of consumer caution, though longer-term trends remain under scrutiny amid global economic uncertainty.