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Economics
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Inflation retreats while manufacturing slumps again

Friday data dump highlights pull back in inflation pressures and economic activity in March.

Retail spending using electronic cards fell 0.7% last month.

Key points
  • What’s at stake: Whether the RBNZ has enough evidence to cut the OCR this year.
  • Background: The RBNZ left the OCR on hold at 5.5%, as expected, this week. Other data out today shows a fall in food price growth, lower spending using electronic cards, as well as contraction in manufacturing sector. 
  • Key players: RBNZ, Adrian Orr, Monetary Policy Committee, ASB, Nat Keall, Mark Smith, Westpac, Darren Gibbs, ANZ, Henry Russell, Miles Workman.

Fresh data out today highlights a further retreat for inflation and sluggish economic activity, but economists caution about claiming victory on inflation just yet.

Stats NZ data showed retail spending using electronic cards fell 0.7% last month, compared with February.

There were falls across the

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Jonathan Mitchell Fri, 12 Apr 2024
Contact the Writer: jmitchell@nbr.co.nz
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Key points
  • What’s at stake: Whether the RBNZ has enough evidence to cut the OCR this year.
  • Background: The RBNZ left the OCR on hold at 5.5%, as expected, this week. Other data out today shows a fall in food price growth, lower spending using electronic cards, as well as contraction in manufacturing sector. 
  • Key players: RBNZ, Adrian Orr, Monetary Policy Committee, ASB, Nat Keall, Mark Smith, Westpac, Darren Gibbs, ANZ, Henry Russell, Miles Workman.
Inflation retreats while manufacturing slumps again
Economics,
103608
true