NZ electronic card spending lifts across all industries

NZ electronic card spending lifts across all industries in June

By Tina Morrison

July 10 (BusinessDesk) - New Zealand retail spending on electronic cards rose across all industries for the first time in seven months in June.

Seasonally adjusted retail spending on credit and debit cards rose 0.8 percent in June following a 0.6 percent lift in May, Statistics New Zealand said. Core retail spending, which excludes vehicle-related industries, rose 0.6 percent in June, matching the increase in May.

Card spending rose across all industries in June, the first broad-based lift since November last year. The largest movements were in consumables spending, which rose 0.6 percent, while fuel spending lifted 1.3 percent, durables spending advanced 0.5 percent, and apparel spending gained 1.5 percent.

“The lift in retail card spending was across the board, from food and liquor, furniture, hardware and appliances, petrol and cars, as well as a bounce back in clothing and footwear,” Stats NZ retail statistics manager Sue Chapman said. “The pick-up in spending on clothing and footwear could be attributed to the start of winter.”

Today's figures show actual total retail spending using electronic cards increased 4.9 percent in June to $5.1 billion compared with the same month a year earlier.

Card-holders across all industries made 140 million transactions in the month, down from 146 million in May. The average value of $49 was unchanged on the month and the year.

(BusinessDesk)

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