Hamilton City Quarterly economic monitor - September 2019

Consumer Spending

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Highlights for Hamilton City

  • Electronic card consumer spending in Hamilton City, as measured by Marketview, increased by 1.2% over the year to September 2019 compared to the previous year. This compares with an increase of 3.4% in New Zealand.

National overview

Households continue to be optimistic about the economy, and are keeping their wallets open, with consumer spending rising 3.4%pa over the 12 months to September 2019. Wages continue to grow, up 2.4%pa in September, which is supporting household spending intentions. Consumer spending is growing at a slower pace than a year earlier, reflecting a more cautious outlook by households, but is still at a relatively high level. We expect consumer spending growth will continue to ease, dragging down our expectations for higher economic growth.