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Business Weekly Economic Report 
Retail seeking some therapy
Monday, 10 August 2009
  • There were a few surprises in last week’s labour market, both good and bad.  The key results were a marked drop in wage growth, a moderate fall in employment and a surprisingly sharp lift in the unemployment rate.
  • The focus for this week is Friday’s retail sales figures for both the June month and the June quarter.  Encouragingly, there are signs that nearly 18 months of retail contraction is at an end.
  • NZD lifts further against a weak USD, setting fresh 2009 highs. Local rates moved higher over the week as offshore news continues to set the local tone.

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Report Prepared by:

Jane Turner
ASB Economist
Phone: +64 9 374 8185
Fax: +64 9 302 0992






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