New Zealand's electronic card retail sales have continued their downward trajectory, with data released on December 11, 2024, showing a significant decrease for November. The current indicator reflects a year-over-year decline, with sales down by 2.3%. This follows a 1.1% decline recorded in October, indicating a worsening trend as the holiday season approaches.
The year-over-year comparison highlights a gloomier retail landscape as consumers seem to be tightening their belts, potentially due to economic uncertainties or rising costs of living. The dip from -1.1% in October to -2.3% in November suggests a concerning pace at which consumer spending has been declining over the year.
These figures are especially pertinent as they arrive just weeks ahead of the year-end shopping rush, a period when retailers hope to recuperate losses. This continued slump in electronic card retail sales could signal challenges ahead for New Zealand’s retail sector, urging stakeholders to reassess strategies to boost consumer confidence and spending during this critical period.
The material has been provided by InstaForex Company -
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