Increase in retail spending

The move from alert level 3 to level 2 in mid-May prompted an increase in spending across Christchurch.

Economist Peter Fieger, of ChristchurchNZ, said from May 14 to 31 spending in Christchurch increased nine per cent compared to the same period in 2019. The country moved to level 2 at 11.59pm on Wednesday, May 13.

Credit: ChristchurchNZ
Credit: ChristchurchNZ
For the entire month of May, overall spending in the city was 15 per cent lower than May 2019, and down 39 per cent in the central city.

Between March 26 and April 27 the country was at level 4, which severely dampened consumer spending.

As the country moved to alert level 2 on May 14, and business and hospitality restrictions were lifted, consumer spending largely returned to pre-Covid levels and, in some cases, exceeded 2019 spending figures.

However, Fieger says: "These figures can be seen as artificially high due to pent-up consumer demand following lockdown. This is likely to soften in coming months."

Credit: ChristchurchNZ
Credit: ChristchurchNZ



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