Tourism-related spending continues to be, for the most part, significantly stronger than a year ago. Housing-related spending continues to be under pressure, though there’s some evidence DIY is holding up. Discretionary spending is mixed. Clothing retail is struggling. Counter-cyclical retail is outperforming as households look to cut costs. Goods retail is a mixed bag. Price changes dominate some categories, e.g. fuel (lower prices) and insurance (higher prices). Business services are also mixed. Spending on printing is well down. In the services space, education is an outperformer as foreign students make a comeback. The relative decline of online shopping is evident in courier services.