Economic Data and Brexit Put the Pound in the Spotlight
Earlier in the Day:
For the Kiwi Dollar
- Spending on durables rose by 19%, with spending on motor vehicles (excl. fuel) up by 15%, year-on-year.
- There were also marked increases in spending on consumables (10%) and apparel (6.6%).
- Compared with September 2019, spending on hospitality (-4.9%) and fuel (-11%) declined, however.
- The rise in spending in September 2020 was attributed to fewer COVID-19 restrictions when compared with August 2020. The COVID-19 alert level for Auckland was lowered from level 3 to level 2.
- Spending on hospitality and fuel rose by 13% and by 11% respectively in the month.