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NZ First Impressions: Retail trade, December quarter 2021
Retail spending rebounded in the December quarter, rising by 8%. That was a faster recovery than we expected. Under the surface, however, there are big differences in spending across sectors which we expect will continue through 2022. Detail: • Retail spending rebounded in the December quarter, rising by 8.6%. That almost completely reversed last quarter’s Delta-related drop. • But while overall spending levels have recovered, under the surface there are significant differences in spending across sectors. The rebound in spending was heavily centred on durable items, like building supplies (up 32%) and ... (full story)