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

 

Crown Accounts: Government Ekes Out Six-Month Surplus Of $9M

The New Zealand government eked out a tiny surplus in the first six months of the fiscal year as growth in domestic consumption lifted the goods and services tax take, while uncertainties over the Kaikoura earthquake costs meant expenses were less than expected. More>>

ALSO:

Almost 400 Jobs: Shock At Cadbury's Dunedin Factory Closure

Workers at Cadbury in Dunedin are reeling after learning this morning that the iconic Cadbury factory is to close, with the loss of almost 400 jobs... “The company had reported it was doing well and this has come out of the blue,” says Chas. More>>

ALSO:

Transport: Boards Of Inquiry For Auckland Roading Projects

Boards of Inquiry have been appointed to decide on two significant Auckland roading projects in a move which will get a decision by the end of the year, Environment Minister Dr Nick Smith and Conservation Minister Maggie Barry announced today. More>>

ALSO:

Three Months On: Quake Reciovery In Kaikōura And Elsewhere

Three months after the magnitude 7.8 earthquake on 14 November, encouraging recovery progress is being made in affected communities. More>>

ALSO:

Jetstar, Qantas For Govt Transport: Government Still In Talks With Air NZ

The government is still negotiating with national carrier Air New Zealand in a cross-agency air travel contract that will add a number of new airlines to the list of approved flyers. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news