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

 


NZ card spending rises 0.3 percent in January

NZ card spending rises 0.3 percent in January on food, liquor, fuel

Feb. 12 (BusinessDesk) – New Zealanders lifted spending on their credit, debit and charge cards last month, led by consumables such as food and liquor, and fuel.

The value of electronic card spending in retail industries rose 0.3 percent, seasonally adjusted, in January from December, the fourth straight gain, according to Statistics New Zealand. Core retail spending, which excludes motor vehicle-related industries, also gained 0.3 percent.

The figures indicate momentum in spending continued in January, after what is forecast to have been a 1.1 percent gain in the volume of sales in the fourth quarter of 2012. That data is released on Friday. A Dun & Bradstreet survey released last month showed four in 10 people planned to raise their credit limit during the next three months.

Paymark, which handles about three-quarters of the country's electronic transactions, said yesterday the value of transactions rose 5.1 percent to $3.96 billion in January from the same month a year earlier, while the number of transactions climbed 6.3 percent to 79 million. That's a faster rate of growth than the 2.3 percent increase in the value of spending in December and the 3.6 percent gain in transactions.

Total card spending rose 0.4 percent in January. In unadjusted terms there were 107 million transactions last month, with an average value of $52 for a total of $5.6 billion.

Spending on consumables rose 0.8 percent in the latest month while spending on fuel climbed 1.9 percent. Vehicles excluding fuel fell 0.1 percent.

Meanwhile, in a further sign that business conditions are improving, a Dun & Bradstreet survey released today shows the time firms take to pay their bills has dropped by a week over the last year to a near record-low of 40.1 days.

"Almost three in five invoices (58 percent) were paid on time in the December quarter, up 11 per cent year-on-year, while the number of invoices paid more than one day late dropped by 28 per cent over the same perio," D&B said.


(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