More good news

People out there, in general, are feeling flush with cash and have the confidence that there’s going to be more of it.

Retail spending using electronic cards was $5.1 billion in January 2017, up $270 million (5.6 percent) from January 2016, Statistics New Zealand said today. All six retail industries had increases.

When adjusted for seasonal effects, retail card spending rose 2.7 percent in January 2017 from December 2016. All six retail industries were up compared with December 2016. This is the biggest percentage increase since January 2006. However, the lift follows flat results in both December and November 2016, with October only up 0.5 percent.

In January, the largest seasonally adjusted increase was from the durables industry, up $37 million (3.1 percent). This follows falls in the previous three months. The durables industry includes furniture, hardware, and appliance retailing.

“The lift in retail card spending in January was across the board, from food and liquor to clothing, petrol, and cars, as well as a bounce back for furniture, hardware, and appliances,” business indicators senior manager Neil Kelly said.

Core retail spending (which excludes the vehicle-related industries) rose 2.5 percent in January 2017, after a 0.7 percent fall in December 2016 and a 0.4 percent fall in November 2016.

The total value of electronic card spending, including the two non-retail industries (services, and other non-retail), rose 2.5 percent in January 2017.

There is still no sign of any of the precursors needed for a National-led government to be turfed out on its ear.   While inflation remains low, wages are solid, and we feel we can afford our  lives, toys and breaks away, voters will happily meander into another three years.

In spite of media coverage and constant wailing of the opposition about crises, inequality and the end of the world as we know it, the noise that generates is magnitudes larger than the actual problem.

 

 


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