Economic Weekly: Sluggish retail spending sets the tone

  • NZ economic data continue to point to the slowdown becoming more entrenched with last week’s Q2 Retail Trade Survey confirming a soft quarter for retail spending.
  • Focus this week will be on the August ANZ Business Outlook, which may partly capture the business community’s reaction to the Reserve Bank of New Zealand’s move to slash the Official Cash Rate by 50 basis points to 1%.
  • Meanwhile, the deteriorating global backdrop will likely remain a drag on sentiment.

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Mark Smith

Senior Economist

Mark joined ASB in 2017, with over 20 years of public and private sector experience working as an economist in New Zealand and the UK.

His resume includes lengthy stints at ANZ and the Reserve Bank of New Zealand, and he has also worked at the Bank of England, HM Treasury and the New Zealand Transport Agency. Mark's areas of specialisation include interest rate strategy, macro-economic analysis and urban economics.

Born and bred in the Waikato, Mark studied at Waikato University where he graduated with a Master of Social Sciences, majoring in Economics.

Mark's key strengths are the ability to use his extensive experience, inquisitive nature, analytical ability, creativity and pragmatism to dig a little deeper and to deliver common sense solutions to tackle complex problems.

When not at work Mark likes to travel, keep fit and spend time with his friends and family.