Retail spending picks up as Kiwis become used to economic uncertainty
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A pickup in retail spending shows some consumers aren't too phased about a tough economic climate.
Stats NZ data shows core retail spending in May was up 2.8% annually – not including volatile sectors like fuel.
Furniture, electronics, and hardware spending is up 4.8%, while hospitality spending is up 3.2%.
Retail NZ Chief Executive Carolyn Young told Mike Hosking that March and April were really uncertain, and consumers were concerned about the cost of living, inflation, and the Middle East crisis.
But now, she says, people have realised we’re in it for the long haul and need to get on with life and work out what we can spend.
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