Economists have revealed retail spending numbers were better than expected for the month of December.

The total value of electronic card spending, including in non-retail services and other non-retail categories, rose a seasonally adjusted 1.5 percent to $9.23 billion in December from November, according to Stats NZ. 

That brought total spending in line with levels last seen in November 2023.

Infometrics Principal Economist Brad Olsen says this is a sign green shoots are returning to the economy.

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Economists have revealed retail spending numbers were better than expected for the month of December.
The total value of electronic card spending, including in non-retail services and other non-retail categories, rose a seasonally adjusted 1.5 percent to $9.23 billion in December from November, according to Stats NZ.&nbsp;
That brought total spending in line with levels last seen in November 2023.
Infometrics Principal Economist Brad Olsen says this is a sign green shoots are returning to the economy.
LISTEN ABOVE

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Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.

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Brad Olsen: Infometrics Principal Economist on retail spending being 'stronger than expected' for December

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/384027a6-e374-4d79-94e5-b26c00734426/transcript