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

 

CORRECT: NZ spending rises 2.6% in Christmas week

CORRECT: NZ spending rises 2.6 percent in Christmas week from 2011 as Canterbury bounces back

(Fixes names of Paymark CEO in third paragraph)

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 Simon 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.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Myrtle Rust: Infections Found At 26 Sites

The affected properties include private gardens, plant nurseries and retailers and an orchard. The stats stand at: 21 properties in Taranaki, 3 in Northland and 2 in Waikato. More>>

Burgers To America: BurgerFuel Opens In The USA

BurgerFuel Worldwide are excited to announce the opening of their first USA based restaurant in Indianapolis, hot off the back of the Indy 500. More>>

English On Budget: Businesses Over-Egg Corporate Tax Cuts

Cutting New Zealand's 28 percent corporate tax rate is "not a panacea in the way business groups sometimes market it," says Prime Minister Bill English. More>>

ALSO:

Auckland Port To Recapture Gas: Union Calls On Ports To Stop Spewing Methyl Bromide

The Maritime Union of New Zealand welcomes the decision by Ports of Auckland to stop releasing methyl bromide emissions into the air. The move to fully recapture the toxic gas after fumigation sets a new benchmark for industry best practice. More>>

ALSO:

Retail: Banks Shoes Calls In Receiver

Banks Group, which runs 14 stores across the country under the brands including Banks Shoes and Shoe Connection, has been tipped into receivership at the request of director John Bank. More>>

ALSO: