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

 

Fuel Spending Drops in July

Fuel spending drops in July

10 August 2017 - Drivers are spending less on fuel as prices fall, Stats NZ said today. Card spending on fuel was down 4.9 percent in July 2017 compared with the same month last year.

“Spending on fuel in July was $543 million, the lowest monthly total since February 2015,” business indicators manager Sue Chapman said. "Fuel prices were cheaper by almost 10 cents a litre in July compared with last month."

When adjusted for seasonal effects, spending in the retail industries fell 0.5 percent in July 2017, after a 0.1 percent fall in June 2017.

Spending rose in four of the six retail industries. The largest movement was fuel, down $36 million (6.1 percent). This follows a $28 million fall (4.6 percent) in June 2017.

Core retail spending (which excludes the vehicle-related industries) rose 0.1 percent in July 2017, after a 0.8 percent rise in June 2017.

Actual retail spending using electronic cards was $4.9 billion in July 2017, up $96 million (2.0 percent) from July 2016.

Values are only available at the national level, and are not adjusted for price changes.


ENDS


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Crown Accounts: Slightly Softer Growth Expected In PREFU

A slightly softer growth forecast is the main feature of largely unchanged Pre-election Fiscal Update compared to the Budget forecasts three months ago, Finance Minister Steven Joyce says. More>>

ALSO:

Water: Farming Leaders Pledge To Help Make Rivers Swimmable

In a first for the country, farming leaders have pledged to work together to help make New Zealand’s rivers swimmable for future generations. More>>

ALSO:

Unintended Consequences: Liquor Change For Grocery Stores On Tobacco Tax

Changes in the law made to enable grocery stores to continue holding liquor licences to sell alcohol despite increases in tobacco taxes will take effect on 15 September 2017. More>>

Back Again: Government Approves TPP11 Mandate

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>

ALSO:

By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>

ALSO: