Statistics New Zealand will release Q1 labour-market data on 6 May. The strong employment growth over 2014 is expected to continue, with the unemployment rate down to 5.5% despite the record-high participation rate of 69.9%.
Job creation was likely strong in the quarter, with jobs increasing 1.0% q/q (3.5% y/y), slightly lower than the 1.2% q/q in Q4-2014. Australia will release March retail sales data later the same day.
Retail sales is expected to grew at a moderate, but still good, 0.5% m/m in March following strong 0.7% m/m growth in February.
Food and household goods retailing, the two biggest contributors in the prior month, were likely the biggest contributors in March as well.
"Retail sales growth was strong in Q1 after a lukewarm Q4-2014 - we expect it to remain in middling territory through the rest of the year", Said Standard Chartered in a report on Tuesday.
