1. The volume of retail trade in New Zealand again fell sharply in Q4 2023 and has now fallen by more from the peak than during the Global Financial Crisis
2. Real retail trade per capita in New Zealand in Q4 was the lowest since March quarter 2017
3. Retail trade inflation in New Zealand has slowed substantially
4. The performance of real retail trade across countries has been VERY different
5. The malaise in China’s property market continues
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