The agency Statistics New Zealand published this morning a series of reports on retail sales and PPI. All figures seem to point to moderate bullishness and heavy momentum heading into the early part of the third quarter.
Nominal and core retail sales data suggests that a solid uptick in consumer confidence has gripped New Zealand, with nominal sales rising 0.9% and the core data showing a 1.0% uptick. The sales data speaks to the sentiment of heightened optimism in the South Pacific. The bullish rise in PPI this month also supports the notion of moderate growth in New Zealand.
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