New Zealand Sales Jump By Most in A Year

Thursday, 11 June 2009 23:01:30 GMT
Written by Luis Gil, DailyFX Research


New Zealand Retail Spending jumped by the most since last June, by 0.5% in April as historically-low interest rates encouraged borrowing and spending. Economist forecasts called for only a 0.2% increase in the figure. Details of the metric show that a significant portion of the unexpected result came as department store sales rose 4.0%, the largest gain in spending in this area since July.