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

 


NZ retail spending on credit, debit cards climbs 0.6% in Dec

NZ retail spending on credit, debit cards climbs 0.6% in December

Jan. 14 (BusinessDesk) – New Zealanders lifted retail spending on credit and debit cards last month, adding to signs an accelerating economy is making consumers more confident to open their wallets.

Total electronic card transactions at retailers rose 0.6 percent, seasonally adjusted, in December from November and were up 5.5 percent compared to December 2012, according to Statistics New Zealand.

Core retailing rose 0.9 percent, led by a 3 percent rise in apparel sales, a 2.1 percent increase in hospitality and a 0.7 percent gain in consumables such as food and liquor, the data shows. Spending on durables, which includes furniture and appliances, edged up 0.2 percent.

The gain in total retailing was helped by a 1.2 percent rise in fuel sales, while vehicle sales were unchanged.

The official figures come after Paymark, which processes 75 percent of all electronic transactions in New Zealand, reported last week that spending in December rose 7.5 percent from a year earlier, rounding out the fastest annual growth since 2008 and including “record smashing” sales on Christmas Eve and Boxing Day.

Total card spending rose 1 percent last month.

In unadjusted terms, there were 128 million transactions in December, with an average value of $56. The total spent was $7.2 billion.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Insurance: EQC To Double Payout, Scrap Contents Insurance

New Zealand’s Earthquake Commission may double its payout amount, scrap contents insurance and process claims through private insurers under the government’s long-running review of funding and management of the state-run earthquake insurer. More>>

ALSO:

Gordon Campbell: On Tiwai Point (And Saying “No” In Greece)

Its hard to see how Rio Tinto’s one month delay in announcing its intentions about the Tiwai Point aluminium smelter is a good sign for (a) the jobs of the workers affected or (b) for the New Zealand taxpayer. More>>

ALSO:

Half Empty: Dairy Product Prices Extend Slide To Six-Year Low

Dairy product prices continued their slide, paced by whole milk power, in the latest GlobalDairyTrade auction, weakening to the lowest level in six years. More>>

ALSO:

Copper Broadband: Regulator Set To Keep Chorus Pricing Largely Unchanged

The Commerce Commission looks likely to settle on a price close to its original decision on what telecommunications network operator Chorus can charge its customers, though it probably won’t backdate any update. More>>

ALSO:

Lower Levy For Safer Cars: ACC Backtracks On Safety Assessments

Dog and Lemon: “The ACC has based the entire levy system on a set of badly flawed data from Monash University. This Monash data is riddled with errors and false assumptions; that’s the real reason for the multiple mistakes in setting ACC levies.” More>>

ALSO:

Fast Track: TPP Negotiations Set To Accelerate, Groser Says

Negotiations for the Trans-Pacific Partnership will accelerate in July, with New Zealand officials working to stitch up a deal by the month's end, according to Trade Minister Tim Groser. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news