Here's our summary of key economic events overnight that affect New Zealand, with news rumours are flowing that China is about to restart some serious stimulus to bolster its stuttering economy. And total American consumer debt rose by +US$148 bln in Q1-2023 to a new record of US$17.0 tln. Mortgage debt rose on higher mortgage rates accounting for 70% of their total consumer debt. Delinquency rates across all types of consumer debt remain low by historic benchmarks, but they are rising quickly now. Hong Kong was up a strong +1.8% and Shanghai was up +1.2% both after rumours that new Chinese stimulus was on the way.

Source: Stuff May 15, 2023 22:47 UTC