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

 


NZ core retail spending on credit, debit cards rises in July

NZ core retail spending on credit, debit rises in July, on gains in durables, apparel and consumables

By Suze Metherell

Aug. 11 (BusinessDesk) - New Zealand core retail spending on debit and credit cards rose in July as increased spending on durables, apparel and consumables offset a dip in hospitality spending.

The value of core retail spending on electronic cards, which excludes fuel and auto-related purchases, rose a seasonally adjusted 0.5 percent, from a restated 0.3 decline in June and a 1 percent gain in May, Statistics New Zealand said. Including auto-related purchases, retail spending was unchanged following a static figure in June, and a 1.2 percent increase in May. Total spending, which includes non-retail industries and services, fell 0.1 percent, following a 0.5 gain in June.

The data comes after the ANZ-Roy Morgan consumer confidence index rose to 132.7 in July, from 131.9 in June, extending a rebound from a six-month low of 127.6 in May, supported by an improving labour market and the impact of a high kiwi dollar on import prices. Today's electronic card figures show spending on durables rose 0.9 percent in July, after a fall of 0.7 percent in June.

Apparel advanced 1.7 percent from a restated 0.2 percent drop the previous month, while consumables increased 0.3 percent having slipped a restated 0.2 percent in June. Hospitality declined 0.6 percent in July.

The unadjusted value of spending on electronic cards rose 4.8 percent to $6.03 billion in July from a year earlier, with an average spend per transaction of $51. About 56 percent of transactions were on debit cards with the the remainder on credit cards.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

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:

Floods: Initial Assessment Of Economic Impact

Authorities around the region have compiled an initial impact assessment for the Ministry of Civil Defence, putting the estimated cost of flood recovery at around $120 million... this early estimate includes social, built, and economic costs to business, but doesn’t include costs to the rural sector. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news