Analysts at  ANZ Bank New Zealand Limited explained that today’s data confirmed a weak Q2 (-0.2% q/q) for retail card spending, with June’s 0.8% m/m rise and May’s revised 0.6% m/m rise only partially offsetting April’s 2.2% decline. Key points: “Retail spending on electronic cards increased 0.8% m/m in June (seasonally adjusted), following an upwardly revised 0.6% m/m lift in May. Consumables (up 0.6%), hospitality (0.2%) and fuel (1.3%) all reported positive outturns. However, the two consecutive monthly rises were insufficient to offset April’s 2.2% decline.  Q2 consumer spending was impacted by a very weak April print. On a quarterly basis, the pace of growth is sitting at -0.2% q/q. However, looking forward there are some tentative signs that momentum is picking up, which will coincide with any positive bump owing to the Families Package, which came into force on July 1. ‘Core’ retail spending, which strips out motor vehicle-related spending, posted seasonally adjusted 0.6% m/m outturns in both May and June, after falling 2.2% m/m in April. This shows some resilience in consumer spending and that wallets haven’t closed just yet. In trend terms, monthly growth in core spending has been tracking sideways with three consecutive 0.2% m/m rises, down from an average of 0.3% m/m in Q1. Overall, we’re left with a pretty modest picture for consumer spending, but with some tentative signs that it’s not over yet. This is consistent with our June ANZ-Roy Morgan Consumer confidence survey which slipped to average levels in June.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/JPY Technical Analysis: Dollar heading towards 111.00 FX Street 4 years Analysts at  ANZ Bank New Zealand Limited explained that today's data confirmed a weak Q2 (-0.2% q/q) for retail card spending, with June's 0.8% m/m rise and May's revised 0.6% m/m rise only partially offsetting April's 2.2% decline. Key points: "Retail spending on electronic cards increased 0.8% m/m in June (seasonally adjusted), following an upwardly revised 0.6% m/m lift in May. Consumables (up 0.6%), hospitality (0.2%) and fuel (1.3%) all reported positive outturns. However, the two consecutive monthly rises were insufficient to offset April's 2.2% decline.  Q2 consumer spending was impacted by a very weak April print. On a… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.