Retail card spending quiet in February

Retail card spending quiet in February – Media release

10 March 2017

Retail spending using electronic cards was $4.8 billion in February 2017, up $121 million (2.6 percent) from February 2016, Statistics New Zealand said today. February 2016 had an extra day of trading, as 2016 was a leap year.

However, when adjusted for seasonal effects, retail card spending fell 0.6 percent in February 2017 compared with January 2017. This decrease follows a strong 2.7 percent increase in January 2017, the largest monthly percentage increase since January 2006.

“The fall in total card spending in February was driven by a lull in furniture, electronics, and department store purchases,” business indicators senior manager Neil Kelly said.

Spending fell in four of the six retail industries in February. The largest fall came from the durables industry, down $26 million (2.1 percent). This decrease follows a strong $39 million (3.2 percent) increase in January 2017. The durables industry includes furniture, hardware, electronics, recreational goods, department stores, and pharmaceutical and other retailing transactions.

The largest increase in February 2017 was from the fuel industry, up $18 million (2.8 percent).

Core retail spending (which excludes the vehicle-related industries) fell 0.7 percent in February 2017, after a 2.7 percent rise in January 2017.

The total value of electronic card spending, including the two non-retail industries (services, and other non-retail), fell 1.0 percent in February 2017. This follows a 2.5 percent rise in January 2017.

Trends for the total, retail, and core retail series have generally been rising since these series began in October 2002.

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

Ends

For more information about these statistics:
• Visit Electronic Card Transactions: February 2017
• Open the attached files
ElectronicCardTransactionsFeb17.pdf
ectFEB17_tablesxlsx.xls

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