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Satish Ranchhod, senior economist at Westpac, notes that New Zealand’s retail volumes rose by 0.2% in the June quarter.

Key Quotes

“The pace of spending has taken a step down over the past year as the housing market and population growth have cooled.”

“Spending growth is expected to remain moderate over the remainder of 2019, before picking up over 2020.”

“Retail price growth remains muted due to competitive pressures.”