Porirua City Quarterly economic monitor - December 2019

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Consumer Spending

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Highlights for Porirua City

  • Electronic card consumer spending in Porirua City, as measured by Marketview, increased by 5.2% over the year to December 2019 compared to the previous year. This compares with an increase of 3.3% in New Zealand.

National overview

Consumer spending continues to grow steadily, however the rate of growth in 2019 proved weaker than in 2018. While good prospects for wage growth in the coming year should keep consumers perky, the prospect of a softer economic environment may weigh on their outlooks. Interest rate cuts will start to flow through to household budgets as they come to re-fix their mortgages, and may in turn flow through to increased spending.