Higher interest rates haven't stopped Kiwi shoppers from spending up a storm.

Retail spending has remained steady at $6.6 billion in February 2023, when compared with Stats NZ data from January.

The Reserve Bank is looking for signs that demand is easing in the economy, but this data indicates this is yet to happen.

NZ Herald business editor Liam Dann says the current spending rates are a mystery to economists and central bankers.

Liam Dann says this may be sign that the previous solutions to treating inflation may no longer be as effective.

LISTEN ABOVE

Higher interest rates haven't stopped Kiwi shoppers from spending up a storm.
Retail spending has remained steady at $6.6 billion in February 2023, when compared with Stats NZ data from January.
The Reserve Bank is looking for signs that demand is easing in the economy, but this data indicates this is yet to happen.
NZ Herald business editor Liam Dann says the current spending rates are a mystery to economists and central bankers.
Liam Dann says this may be sign that the previous solutions to treating inflation may no longer be as effective.
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.