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BNZ Weekly Overview – Tony Alexander

Retail sales data out this morning tell us that spending is growing at an above average pace. But areas of greatest strength are where prices have been falling. Consumers are seeking out bargains in an environment of low wages growth not yet being offset by rising employment and the fastest population growth (1.5%) in a decade.

WO August 14 2014

Facebook tracks users to study shopping habits

Facebook will let advertisers know where a promotion was first viewed and when it led to a purchase by tracking users between their electronic devices, a tool that may reignite privacy concerns.

Marketers will be able to see the number of users that clicked on an ad, whether they used a smartphone, tablet or desktop computer, and which device was used to buy a product, Menlo Park, California-based Facebook said in a blog post Wednesday.

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Westpac thinks house prices will keep rising into next year then go into a sustained downturn

Westpac is picking the current surge in immigration to reverse in the second half of this decade, with an accompanying fall in house prices.

In Westpac’s latest Home Truths newsletter, the bank’s chief economist Dominick Stephens said the housing market was expected to stage a brief resurgence this year, “before a more pervasive downturn ensues.”

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