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


NZ spending rises 2.6% in last week before Christmas

NZ spending rises 2.6% in Christmas week from 2011 as Canterbury bounces back

Dec. 24 (BusinessDesk) - New Zealanders spent 2.6 percent more in the week leading up to Christmas this year than they did a year ago, due mainly to a resurgent Canterbury region that wasn't reeling from yet another earthquake.

Retail spending rose to $1.33 billion in the week ended Dec. 23, from $1.29 billion in the same week a year earlier, according to Paymark figures, which account for about three quarters of all electronic transactions. Almost a third of that increase came from Canterbury which registered an 8 percent left from a year ago when the country's second-biggest city was dealing with a major earthquake.

"Canterbury has really steamed ahead of the other regions in terms of spending growth in the lead up to Christmas," Paymark chief executive Steve Tong said in a statement. "In the past few days we've seen the spending growth rate decelerate slightly to become more in line with the average growth rate over the past 11 months."

The figures come after government figures this month showed sales on electronic cards rose 0.5 percent in November, led by spending on hospitality.

Today's Paymark figures reported a 1.9 percent increase in Auckland/Northland spending to $520 million, while Wellington showed a 1.6 percent fall to $128.6 million.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Welcome Home: Record High Migration Stokes 41-Year High Population Growth

New Zealand annual net migration hit a new high in October as more people arrived from than departed for Australia for the first time in more than 20 years. More>>


Citizens' Advice Bureau: Report Shows Desperate Housing Situation Throughout NZ

CAB's in-depth analysis of over 2000 client enquiries about emergency accommodation shows vulnerable families, pregnant women and children living in cars and garages, even after seeking assistance from the Ministry of Social Development and Housing New Zealand. More>>


Speaking For The Bees: Greens Call For Neonicotinoid Pesticide Ban

The National Government should ban the use of controversial pesticides called neonicotinoids after evidence has revealed that even at low doses they cause harm to bee populations, the Green Party said today. More>>


Science Awards: NZAS Celebrate NZ Scientific Achievements

The Marsden Medal is awarded for a lifetime of outstanding service to the cause or profession of science, in recognition of service rendered to the cause or profession of science in the widest connotation of the phrase. This year’s medal is awarded to Dr Mike Andrews. More>>


Court Rules: Affco 'Unlawfully' Locked Out Meat Workers

The note says the full court found for the plaintiffs, "that is that the defendant locked out the second plaintiffs unlawfully and that it breached s 32 of the Act by acting otherwise than in good faith towards the plaintiffs while collective bargaining was still going on." More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news