Q1 NZ Retail numbers and April Net Migration figures

Monday, 21 May 2018, 11:30 am
Press Release: HiFX

Q1 NZ Retail numbers and April Net Migration figures have just been released.

They came in lower than expected overall:

Adjusted Retail Sales Volume (Q1) +0.1% (Consensus +1.0%)
Core Retail Sale (Q/Q) +0.6% (Consensus +1.1%)

Actual Q1 Retail Sales rose 3.0% compared with same quarter last year.

Q4 figures were revised lower to +1.4 % from +1.7%.

Higher spending on electronics and appliances were offset by reduced spending on clothing and footwear.

April’s Net Migration numbers were a seasonally adjusted net gain on 4,930 permanent and long-term migrants, compared with a revised 5,380 in March. The lower number was largely because more non-New Zealand citizens are leaving the county.
NZ short-term visitors fell 9.0% in April versus a year ago - impact of the Lions Rugby tourists inflated the 2017 numbers.

The NZD is a lower in immediate response.

Current indicative levels are:

NZD-USD 0.6895 / 0.6920
NZD-AUD 0.9170 / 0.9195
NZD-EUR 0.5860 / 0.5885
NZD-GBP 0.5115 / 0.5140
NZD-JPY 76.45 / 76.70
NZD-CAD 0.8885 / 0.8910

Please call for further information or pricing.

ends

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