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14 Nov 2024 17:05
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      Home > News > Business

    Migration, mortgages and tourism trends are continuing to hit the retail sector

    Migration, mortgages and tourism trends are continuing to hit the retail sector


    Latest Stats NZ figures show card spending was down 1.1 percent in October, and 5.6 percent in September, compared to the same months last year.

    Spending isn't expected to pick until next year.

    ASB Chief Economist Nick Tuffley says high mortgage rates will limit Christmas spending.

    Tuffley says slowing migration and flattening tourism arrivals mean we aren't getting the same momentum of people walking around and spending.

    © 2024 Newstalk ZB, NZCity

     Other Business News
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     14 Nov: Food price inflation is continuing to ease, although some items are getting more expensive
     14 Nov: New Zealand citizen departures continue in record numbers
     14 Nov: Home prices are continuing to fall, while rental prices are back on the rise
     14 Nov: A gaming machine lobby group is pleased about a government move to bring online operators into line
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     Today's News

    		 Entertainment:
    Brittany Cartwright doesn't think Jax Taylor changed "at all" during his spell in rehab 17:02

     Law and Order:
    Five more people have been arrested as police target the Comancheros' motorcycle gang 16:57

     Netball:
    Could the Silver Ferns benefit from New Zealand grassroots netball copying Australian training methods? 16:47

     Living & Travel:
    Plans from the South Island NRL bid's new president to meet with the other Christchurch-based proposals in the hopes of joining forces 16:37

     Entertainment:
    Ariana Madix dreams of starring in 'Mamma Mia!' on Broadway 16:32

     Business:
    Seasonal and global factors are playing into our food prices 16:17

     Business:
    Leading economist Nouriel Roubini warns Donald Trump's economic policies could lead to slower economic growth and inflation 16:07

     Entertainment:
    Queen Camilla will "keep trying" to raise awareness of domestic abuse 16:02

     Entertainment:
    Blake Shelton will search for "the next big artist" on 'The Road' 15:32

     Cricket:
    Black Caps allrounder Michael Bracewell is hopeful the 45-run loss to Sri Lanka in Dambulla will be a learning experience for the side's youngsters 15:27

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