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

 

Finance: Major Campaign To End "Gross Overtaxation Of Savings"

The campaign – which includes a special web site through which New Zealanders can e-mail their own and other MPs and party leaders – is backed by Age Concern, Consumer NZ, the Financial Services Council and the Taxpayers’ Union. More>>

ALSO:

Scoop Business: Leighton-Led WGP To Build, Manage Transmission Gully

The Wellington Gateway Partnership, led by a unit of ASX-listed Leighton Holdings, has won the $1 billion contract to build the Transmission Gully road north of Wellington. More>>

ALSO:

Gareth Morgan: The Government’s Fresh Water Policy – Revisited

Fresh water quality is the latest area to be in the sights of Gareth Morgan and his research organisation The Morgan Foundation... They found that the fresh water policy was a bit murkier than the Environment Minister let on. More>>

ALSO:

Interest Rates: RBNZ Hikes OCR To 3.5%, ‘Period Of Assessment’ Now Needed

Reserve Bank governor Graeme Wheeler raised the official cash rate as expected, while signalling a pause in rate hikes to assess the impact of moves so far this year. The kiwi dollar sank after Wheeler said its strength was “unjustified” and that the currency could have “a significant fall.” More>>

ALSO:

Fonterra: Canpac Site 'Resize' To Focus More On Paediatrics

Fonterra is looking at realigning its packing operations at Canpac, in the Waikato, to focus more on paediatric nutritionals... The proposed changes could mean around 110 roles may not be required at the site which currently employs 330. More>>

ALSO:

Scoop Business: Postie Plus Brand Gets 2nd Chance With Well-Funded Pepkor

The Postie Plus brand is getting a new lease of life after South Africa’s Pepkor bought the failed retailer’s assets out of administration and said it will use its purchasing power to reduce costs of stock and fatten margins. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

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