Andrew Callagher
👤 SpeakerAppearances Over Time
Podcast Appearances
And this one is one of my favourite ones.
Every month ANZ release details of their card spending through their network.
It's very detailed.
There's all sorts of interesting data in there.
They're also New Zealand's biggest bank, so it's pretty comprehensive.
Here's the thing.
Spending rebounded in May.
It's still not what you'd call robust, but it does look like when we get some relief,
for Kiwis at the petrol pump, it's enough for us to get out and actually get moving a little bit on spending.
And I think if you look at some of the categories, though, you do have to ask some questions.
I was looking at consumables.
This is food.
Pretty basic.
Last time I looked, we've all got to eat.
Now, the spending increase there is running below
the rate of food price inflation.
So it does look like we are actually sort of cutting back on what we spend or on how we spend.
Overall card spending lifted 1.8% in May.
That's seasonally adjusted.
It's up 4.8% compared to the same time last year.