Greg Smith

Genuine spending growth beneath it.

But, yeah, you look at supermarkets and grocery stores, maybe slightly different story.

Sales volumes up 1.7%, but still getting the same amount of food.

We're just spending more.

Shift towards home brands as well, which perhaps not surprising.

But we're also spending on renovations during the quarter as well, Mike, which was interesting.

So hardware, building, garden supplies, that was pretty strong.

Accommodation, that was up 6% tourism-related spending, especially in the South Island.

Go to the South.

Up 2.9% tourism agriculture doing pretty well.

Otago to stand out there.

Spending not broad-based, Mike, clothing, footwear and accessories.

Speaking of footwear, that was down nearly 5%, so households are pulling back in places in the March quarter.

And fuel, we're always interested in that.

Sales values there are up around about 6%, but you take out the higher prices, fuel volumes barely move.

So we're spending more largely because petrol costs more, not because we were driving more.

But of course, the important thing in all this, Mike, and we'll see where this peace deal or end of the conflict goes, but these figures mostly capture spending before the full impact of the conflict and the collapse in consumer confidence.

More recent electronic card spending points to a much weaker April.

Yeah, retirement care home.

Yeah, it was a really good result last week, actually.