Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More

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

 

NZ electronic card spending nudges up in May

NZ electronic card spending nudges up in May after big drop in April

By Tina Morrison

June 12 (BusinessDesk) - New Zealand retail spending on electronic cards edged up in May, led by consumer spending on household essentials such as groceries and fuel.

Seasonally adjusted total retail spending on credit and debit cards rose a modest 0.4 percent in May following a substantial 2.2 percent fall in April, Statistics New Zealand said. Core retail spending, which excludes vehicle-related industries, rose 0.4 percent in May following a 2.1 percent fall in April.

"Retailers outside the realm of food and fuel trading have had a relatively quiet month with half the retail industries showing falls,” Stats NZ retail trade manager Sue Chapman said. “Spending on personal and household services and non-retail industries including travel, health, and wholesale also dropped in May.”

Card spending rose in three of the six retail industries in May. Consumables spending, which covers grocery and liquor retailing, rose 1.4 percent in May, rebounding from April's 3.6 percent fall. Spending on fuel advanced 0.9 percent, and spending on apparel such as clothing, footwear and accessories slipped 1.8 percent.

Today's figures show actual total retail spending using electronic cards increased 4.2 percent in May to $5.2 billion compared with the same month a year earlier.

Card-holders across all industries made 146 million transactions in the month, up from 139 million in April. The average value of $49 was unchanged on the month and the year.

Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

Stats NZ said it has accessed updated information from its suppliers and revised published data from June 2017 through April 2018 after the unusually large drop in April's figures. At the time of the data release last month, the agency said the results could be affected by changes in consumer behaviour, payment methods, or the way the electronic card transactions were processed.

"We regularly review electronic card transactions data received and examine inconsistent results to ensure releases are economically representative of retail spending in New Zealand," the agency said today.

(BusinessDesk)

ends

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Business Headlines | Sci-Tech Headlines

 
GenPro: General Practices Begin Issuing Clause 14 Notices

GenPro has been copied into a rising number of Clause 14 notices issued since the NZNO lodged its Primary Practice Pay Equity Claim against General Practice employers in December 2023.More

SPADA: Screen Industry Unites For Streaming Platform Regulation & Intellectual Property Protections

In an unprecedented international collaboration, representatives of screen producing organisations from around the world have released a joint statement.More

 
 
 
 
 
 
 
 
 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.