The week in numbers
- QVNZ three monthly house price growth continued to accelerate, reaching 12.7%pa in July
- Retail sales growth was up 7.2%pa in the June quarter, and 4.8%pa in the June month.
- The exchange rate is crazy, falling to $0.67US at one point, currently around $0.69.
Robust house price growth and reasonable sales growth are not the sort of news that usually leads to a plunge in the exchange rate. However, with credit tight people are pulling out of NZ to try and get hold of some liquidity.