Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Card spending increases, trend remains flat

21 August 2008

Electronic card spending increases, trend remains flat

After adjusting for seasonal effects, the total Electronic Card Transaction (ECT) series increased 0.4 percent in July 2008 compared with June 2008, Statistics New Zealand said today. The durables, fuel retailing and consumables industries were the main contributors to this increase, which was partly offset by decreases in the non-retail and hospitality industries.

The trend for the total ECT series has flattened since March 2008. Prior to this the trend generally increased between 0.5 and 1.0 percent per month. After adjusting for seasonal effects, the retail ECT series was 0.8 percent higher in July 2008 than in June 2008. The core retail ECT series (which excludes the motor vehicle-related industries) increased 1.2 percent in July following a 1.5 percent decrease in June. Both series have been variable since March 2008, in particular the core series, with alternating monthly decreases and increases.

The trend in the core ECT series has been flat since September 2007. By contrast, the trend series for retail ECT has generally been stronger over the same period, mainly because of higher spending on fuel due to increasing fuel prices.

There were 84 million electronic transactions in July 2008 with a value of $4.6 billion. Geoff Bascand

Government Statistician 21 August 2008


© Scoop Media

Business Headlines | Sci-Tech Headlines


Back Again: Government Approves TPP11 Mandate

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>


By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>


Snail-ier Mail: NZ Post To Ditch FastPost

New Zealand Post customers will see a change to how they can send priority mail from 1 January 2018. The FastPost service will no longer be available from this date. More>>


Property Institute: English Backs Of Debt To Income Plan

Property Institute of New Zealand Chief Executive Ashley Church is applauding today’s decision, by Prime Minister Bill English, to take Debt-to-income ratios off the table as a tool available to the Reserve Bank. More>>


Divesting: NZ Super Fund Shifts Passive Equities To Low-Carbon

The NZ$35 billion NZ Super Fund’s NZ$14 billion global passive equity portfolio, 40% of the overall Fund, is now low-carbon, the Guardians of New Zealand Superannuation announced today. More>>