New Zealand NZD

New Zealand Credit Card Spending YoY

Impact:
Low

Latest Release:

Date:
Surprise:
2.7%
Actual:
4.7%
Forecast: 2%
Previous/Revision:
1.6%
Period: Nov
What Does It Measure?
The New Zealand Credit Card Spending YoY measures the year-over-year change in the total value of transactions made using credit cards. This indicator primarily focuses on consumer spending behaviors, reflecting trends in consumption, which can signal broader economic health in terms of discretionary spending and retail performance.
Frequency
This report is released monthly, typically as a preliminary estimate on the first business day of the following month, subject to later revisions.
Why Do Traders Care?
Traders monitor credit card spending data closely as it serves as a barometer for consumer confidence and economic activity, with higher-than-expected figures generally seen as bullish for the New Zealand Dollar (NZD) and local equities. Given its timeliness, it can influence trading decisions as a precursor to other key economic indicators.
What Is It Derived From?
The Credit Card Spending YoY indicator is derived from data collected by major banks and financial institutions within New Zealand, encompassing transaction information from a wide range of retailers and service providers. This data is aggregated to reflect total spending activity and is adjusted to account for seasonal variations to enhance its accuracy.
Description
The preliminary report provides early insights into consumer spending habits based on credit card transactions, while final figures, released later, offer a more definitive accounting of spending patterns. The YoY comparison is preferred to highlight long-term spending trends while mitigating seasonal fluctuations that can obscure short-term data.
Additional Notes
This indicator is considered a coincident economic measure because it reflects current consumer spending behavior that typically correlates with overall economic growth. Additionally, it often aligns with trends seen in retail sales figures and consumer confidence indices, providing valuable context for market participants.
Bullish or Bearish for Currency and Stocks
Higher than expected: Bullish for NZD, Bullish for Stocks.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number Better than forecast for the currency (or previous revise better)
Red Number Worse than forecast for the currency (or previous revise better)
Hawkish Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish Favors lower rates to boost growth, weakening the currency but lifting stocks.
Date Time Actual Forecast Previous Surprise
4.7%
2%
1.6%
2.7%
1.4%
0.4%
0.3%
1%
0.2%
3.7%
3.3%
-3.5%
3.5%
1.7%
1.6%
1.8%
1.4%
0.9%
0.9%
2.4%
2%
-1.5%
2.2%
0.3%
0.5%
1.9%
0.5%
0.2%
0.7%
0.3%
0.8%
0.2%
0.8%
0.6%
0.9%
1.1%
1.3%
-0.2%
1.3%
-1.2%
-1.3%
2.5%
-1.4%
-3.1%
-3.2%
0.5%
0.3%
-3.7%
0.3%
-3.1%
-3.2%
-3.1%
-3.1%
-3.7%
-3.8%
-3.1%
-3.1%
-0.2%
0%
0.4%
-0.8%
-0.4%
-0.6%
1.8%
-0.6%
-2.4%
1.4%
2.1%
2.1%
-0.7%
2.2%
0.8%
0%
1.4%
-0.3%
4.5%
4.3%
-4.8%
4.3%
3.6%
3.3%
0.7%
3.3%
-4%
-2.8%
7.3%
-2.9%
2.7%
2.8%
-5.6%
3.3%
4.6%
4.3%
-1.3%
4.2%
2.9%
4%
1.3%
3.6%
5.5%
5.1%
-1.9%
5%
9.9%
3.4%
-4.9%
3.3%
13.9%
11%
-10.6%
11.4%
12.5%
19.7%
-1.1%
20.3%
28%
25.5%
-7.7%
25.6%
18.5%
18.1%
7.1%
17.9%
10.8%
12.7%
7.1%
12.4%
11.5%
16.2%
0.9%
16%
17.9%
24.6%
-1.9%
24.8%
36%
34%
-11.2%
34.1%
29.3%
29.4%
5.1%
4.9%
3.9%
3.5%
2.3%
2.2%
1.3%
1.1%
1.8%
3.5%
-0.7%
3.4%
-8.3%
1%
11.7%
1%
8.3%
5.1%
-7.3%
5.5%
2.1%
1.6%
3.4%
1.2%
-0.1%
-0.4%
1.3%
-0.1%
-2.1%
-5.2%
2%
-5.6%
-12.8%
-12.9%
-6.9%
27.2%
65%
87.5%
-37.8%
87.4%
60%
0.5%
27.4%
2.2%
-10%
-12.6%
12.2%
-12.4%
-10.7%
-6.7%
-5.2%
-10.6%
-6.7%
-5.6%
-6%
-6.3%
-9.8%
-9.9%
-11.8%
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