New Zealand's Q2 will see far softer retail sales volume - ANZ

FXStreet (Bali) - Philip Borkin, Senior Economist at ANZ, expects New Zealand's Q2 will see far softer retail sales volume following the electronic card transaction data from earlier today, which rose 1.2% sa in May.

Key Quotes

"Retail spending bounced as expected in May, although the composition was soft, largely being driven by higher fuel sales. It certainly looks as though Q2 will see far softer retail sales volume growth than over Q1. We expect this moderating trend to continue for the remainder of 2015."