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

 

Insurers Up For More Payouts: Chch Property Investor Wins Policy Appeal In Supreme Court

Ridgecrest NZ, a property investor, has won an appeal in the Supreme Court over insurance cover provided by IAG New Zealand for a Christchurch building damaged in four successive earthquakes. More>>

ALSO:

Other Cases:

Royal Society: Review Finds Community Water Fluoridation Safe And Effective

A review of the scientific evidence for and against the efficacy and safety of fluoridation of public water supplies has found that the levels of fluoridation used in New Zealand create no health risks and provide protection against tooth decay. More>>

ALSO:

Scoop Business: Croxley Calls Time On NZ Production In Face Of Cheap Imports

Croxley Stationery, whose stationery brands include Olympic, Warwick and Collins, plans to cease manufacturing in New Zealand because it has struggled to compete with lower-cost imports in a market where the printed word is giving way to electronic communications. More>>

ALSO:

Prefu Roundup: Forecasts Revised, Surplus Intact

The National government heads into the election with its Budget surplus target broadly intact, delivering a set of economic and fiscal forecasts marginally revised from May to reflect weaker commodity prices and a lower tax take. More>>

ALSO:

Convention Centre: Major New SkyCity Hotel And Laneway For Auckland

Today SKYCITY Entertainment Group Limited revealed plans to build a new hotel and pedestrian laneway of bars, restaurants and boutique shopping on land it owns in the Nelson and Hobson Streets block, expanding the SKYCITY Entertainment Precinct. More>>

ALSO:

Igniting The Spark: Bringing The Digital Enabler To Life

Changing a name is, relatively speaking, the easy part of a re-invention. Changing a culture, getting all the ducks in a row, turning yourself inside-out to become customer-inspired is a much bigger challenge. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news