New Zealand's electronic card retail sales exhibited a welcome sign of recovery in December 2024, according to the latest data updated on January 20, 2025. After a concerning drop of 2.3% in November when compared year-over-year, December's figures show an improvement with a smaller decline of 1.0% for the same comparative period.
This positive shift suggests a slow yet steady comeback in consumer spending during the peak holiday season, indicating potential resilience in the retail sector amid broader economic challenges. As consumers perhaps turned to card payments for seasonal shopping, the softened negative growth could also reflect improved consumer confidence and a gradual easing of economic pressures.
The year-over-year analysis underscores a partial regaining of footing, with the current figures showing a crucial stem in the previous month's downward trend. Retailers and economists alike will keenly anticipate whether this momentum will continue into the new year and signal a more robust recovery in New Zealand’s broader economic landscape.
