As the member of the Executive Board of the Deutsche Bundesbank responsible for cash management, I am not sure whether this spirit of forward together is shared by all. Cash is seen as a curse at times, or even as something to go to war with. Cash usage in Germany continues to be high by international standards.
In New Zealand, household spending remains resilient, especially considering the rise in debt servicing costs, the fall in house prices, and low levels of consumer confidence. Employment levels are high, and income growth and household savings are supporting spending. The rebound in tourism is also supporting domestic demand.