AUCKLAND, 3 November 2023 – Consumer spending data released by Worldline today shows annual spending growth continued to be weak in the first two weeks of October and remained so in the last two weeks of the month following the 14 October general .
U.S. retail sales in September exceeded expectations, rising 0.7% due to increased purchases of motor vehicles and spending at restaurants and bars. The August sales figures were also revised higher to show a 0.8% increase. However, rising interest rates have led to a spike in credit card delinquencies, and consumers are relying more on credit cards to make purchases. Despite this, consumer spending remains strong due to a tight labor market, with the economy adding 336,000 jobs in September.
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Consumer spending data released by Worldline today shows annual spending growth was relatively slow at the start of September, most noticeably in Auckland, but weakened across the country by the end of the month. Consumer spending processed through all .