A temporary slowdown
Westpac senior economist Satish Ranchhod discusses how household spending growth has slowed in early 2019.
Westpac senior economist Satish Ranchhod discusses how household spending growth has slowed in early 2019.
After losing some steam over 2018, another year of moderate growth in retail spending is on the cards for 2019.
The pace of economic growth has taken a step down as conditions in the New Zealand economy have become increasingly mixed.
In terms of retail spending, New Zealand households ended 2017 with a bang, and it looks like the party has continued in the early part of 2018. However, despite this firmness in spending levels, retail price inflation remains stubbornly low, writes Satish Ranchhod, Westpac senior
Westpac's senior economist, Satish Ranchhod, talks about how consumer spending is set to continue growing at a firm pace over the coming year.
2016 was a record year for retail spending in New Zealand, but as we enter 2017, some of the key drivers of activity in the economy have started to shift. Westpac senior economist Satish Ranchhod warns that consumer spending may drop.
Over the past year, spending by New Zealand households grew by 2.7 percent (excluding the effects of price changes). Westpac senior economist Satish Ranchhod breaks down what’s driving this.
Household debt levels are now higher than before the Global Financial Crisis. Westpac senior economist Satish Ranchhod foresees these debt levels leading to an eventual reduction in spending.
It’s shaping up to be a positive year for the retail sector, says Westpac senior economist Satish Ranchhod. He picks apart the factors supporting consumer spending and forecasts some variability in this opinion column.
Since 2010, the overall level of retail prices in New Zealand has essentially been flat. That’s a big change from preceding years when retail prices were rising by around two percent annually. Westpac senior economist Satish Ranchhod explains why this is happening.