NZX-listed retail businesses have been reporting their latest financial results. 

Financial markets are focused on these results to track consumer spending trends to predict how close the nation is to the predicted recession.

Milford Asset Management equities analyst Jeremy Hutton says there are some early cracks starting to form in consumer spending.

Jeremy Hutton says that Briscoes and The Warehouse Group have bleak outlooks for 2023, as consumers pull back on purchasing big-ticket items.

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