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July electronic spending flat

Embargoed until 10:45am – 21 August 2007

July electronic spending flat

In July 2007, there were 79 million electronic card transactions totalling $4.6 billion, Statistics New Zealand said today. When adjusted for seasonal fluctuations, this represents a 0.1 percent decrease in the value of total card spending compared with June 2007.

The overall trend was 8.0 percent higher in July 2007 than in July 2006. This is the smallest annual increase in the Electronic Card Transaction series trend since the series began in October 2002.

The trend reflects not only changes in spending and prices but also changes in merchants' and customers' use of payment methods.

In the retail industries, the seasonally adjusted value of card transactions fell 0.4 percent in July 2007 compared with June 2007. The seasonally adjusted core retail Electronic Card Transaction series decreased 0.6 percent over the same period.

For the year ended June 2007, the average number of card transactions made per person in New Zealand was 215, with an average annual value of $12,549.

The Electronic Card Transaction series measures the number and value of debit, credit and charge card transactions with New Zealand-based merchants. It is a census of all card transactions processed within New Zealand. Transactions by overseas card-holders in New Zealand are included; transactions by New Zealand card-holders overseas are excluded.

The data are being released as an experimental series and Statistics NZ acknowledges the cooperation of the private sector in providing the data for publication.

Cathryn Ashley-Jones
Acting Government Statistician

ENDS

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