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

 


NZ retail spending on electronic cards rises 0.4%

NZ retail spending on electronic cards rises 0.4%, led by fuel purchases

Nov. 9 (BusinessDesk) – New Zealand retail spending on electronic cards rose as expected last month, led by fuel, motor vehicle related spending and durables.

Spending on debit, credit and charge cards rose 0.4 percent, seasonally adjusted, in October, following a 0.6 percent decline in the previous month, according to Statistics New Zealand. Core retail, which excludes motor vehicle related spending, gained 0.2 percent.

Consumer related stocks on the NZX 50 Index have been among the biggest gainers this year, with a 35 percent gain based on the NZSE Consumer Index, outpacing the broader market. Briscoe Group has climbed 49 percent this year, while jeweller Michael Hill International is up 39 percent.

The 0.4 percent gain in the latest month matched the forecast in a Reuters survey. Actual sales were up 3.2 percent from a year earlier.

Spending on fuel rose 1.6 percent and spending on durables, which include furniture, hardware and appliances, rose 0.7 percent in October. Consumables, such as food and liquor, fell 0.6 percent following a decline of 0.7 percent in the previous month.

The electronic cards data covers about two thirds of retail spending in New Zealand.

Total electronic card transactions, including those not related to retailing, also rose 0.4 percent.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Statistics: Net Annual Migration Passes 71,000

A record 71,300 more migrants arrived in New Zealand than left in the January 2017 year, Statistics New Zealand said today. This surpassed the previous annual record set in December 2016. More>>

ALSO:

Fossils: Ancient Penguins Lived Alongside Dinosaurs?

Penguins are much older than previously thought and their evolution probably dates back to the days of the dinosaurs, according to research on the fossilised leg bone and toes of a giant ancient penguin found in rocks near Waipara, North Canterbury. More>>

No Voda/Sky: Commission Declines Clearance For Merger

The Commerce Commission has declined to grant clearance for the proposed merger of Sky Network Television and Vodafone New Zealand. More>>

ALSO:

EARLIER:

Power: IEA Report On New Zealand's Energy System

Outside of its largely low-carbon power sector, managing the economy’s energy intensity and greenhouse gas emissions while still remaining competitive and growing remains a challenge. More>>

ALSO:

NASA: Seven Earth-Size Planets Around A Single Star

NASA's Spitzer Space Telescope has revealed the first known system of seven Earth-size planets around a single star. Three of these planets are firmly located in the habitable zone, the area around the parent star where a rocky planet is most likely to have liquid water. More>>

ALSO:

Auckland Transport Case: Men Guilty Of Corruption And Bribery Will Spend Time In Jail

Two men who were found guilty of corruption and bribery in a Serious Fraud Office (SFO) trial have been sentenced in the Auckland High Court today... The pair are guilty of corruption and bribery offences relating to more than $1 million of bribes which took place between 2005 and 2013 at Rodney District Council and Auckland Transport. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news