Brad Olsen: Infometrics principal economist on the uptick in consumer retail spending - Heather du Plessis-Allan Drive

According to new data, retail cart spending on non-essential items has gone up again this year.

Stats NZ says that electronic card spending climbed an extra $88 million, across categories like appliances, furniture, liquor, and apparel.

Infometrics principal economist Brad Olsen explained that this data is surprising, because it indicates that higher interest rates haven't hit yet.

Brad Olsen suggests that people may need to be cautious in the future, but it's surprising that it hasn't hit Kiwi households at this point.

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