Nick Brunsdon: Infometrics Principal Economist on retail spending falling by $160 million in April

Kiwis appear to be cutting back on discretionary spending as fuel prices bite.  Data from Stats NZ shows retail electronic card purchases fell 1.3% last month, with Kiwis buying less or cheaper food and cutting back on their clothing budget.  Non-retail spending on the likes of travel and health is down 4%.  Infometrics Principal Economist Nick Brunsdon told Mike Hosking it makes sense, as these are more discretionary purchases.  He says people are bound to spend less on holidays, or even at the dentist, if they're trying to make up the dollars to fill the tank.  LISTEN ABOVE See omnystudio.com/listener for privacy information.