Marlborough Region Quarterly economic monitor - June 2020

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Consumer Spending

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Highlights for Marlborough Region

  • Electronic card consumer spending in Marlborough Region, as measured by Marketview, decreased by -3.5% over the year to June 2020 compared to the previous year. This compares with an decrease of -2.8% in New Zealand.

National overview

Consumer spending fell off a cliff in the June 2020 quarter, with spending down 20% compared to June 2019, as households held onto their wallets during the lockdown period. Spending over the year to June 2020 was down 2.8% compared to the June 2019 year.

Consumer spending has been surprisingly resilient since the Level 4 lockdown, but we expect it to soften in the coming quarter as post-lockdown surge ends and the end of the wage subsidy extension brings about a second wave of redundancies.