Miles employee, senior social scientist at ANZ, notes that New Zealand’s retail sales volumes rose zero.2% q/q in Q2 (sa), with annual growth slippery zero.4%pts from Q1 to two.9%.
Key Quotes
“Core retail volumes, that exclude volatile elements like gasolene, were barely stronger than the headline at zero.3% q/q (up three.6% y/y vs three.9% in Q1). All up, sales volumes ar holding at a high level, however troubled to accelerate.”
“Sales values rose zero.7% q/q (sa), reflective higher costs within the quarter, as well as for fuel wherever volumes fell zero.8% whereas values upraised two.4%.”
“Today’s print was loosely obviously, therefore isn't a game changer for our Q2 gross domestic product choose of zero.4% q/q. Overall, shopper defrayal seems to be holding at an honest level, and a few progressive indicators (such because the proportion of social units UN agency suppose now's an honest time to shop for a serious household – a part of our shopper confidence survey) suggests this was the case heading into Q3. However, the use elements of business surveys have recently swaybacked that aboard high levels of social unit debt, fastness increase, a softer housing market, and a few regarding world growth signals recommend draw back risks ar heightened and side is proscribed.”
0 comments:
Post a Comment