According to new data, retail cart spending on non-essential items has gone up again this year.

Stats NZ says that electronic card spending climbed an extra $88 million, across categories like appliances, furniture, liquor, and apparel.

Infometrics principal economist Brad Olsen explained that this data is surprising, because it indicates that higher interest rates haven't hit yet.

Brad Olsen suggests that people may need to be cautious in the future, but it's surprising that it hasn't hit Kiwi households at this point.

LISTEN ABOVE

According to new data, retail cart spending on non-essential items has gone up again this year.
Stats NZ says that electronic card spending climbed an extra $88 million, across categories like appliances, furniture, liquor, and apparel.
Infometrics principal economist Brad Olsen explained that this data is surprising, because it indicates that higher interest rates haven't hit yet.
Brad Olsen suggests that people may need to be cautious in the future, but it's surprising that it hasn't hit Kiwi households at this point.
LISTEN ABOVE

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. 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.