Trend in retail electronic card spending flat
21 May 2008
Trend in retail electronic card spending flat
The trend in the Retail Electronic Card Transaction (ECT) series has flattened since December 2007, Statistics New Zealand said today.
The seasonally adjusted value of the retail ECT series was down 0.3 percent in April 2008. The motor vehicle-related industry increased in April, due to higher fuel prices, but was offset by falls in the consumables, durables and hospitality industries. The seasonally adjusted value of the core retail ECT series, which excludes the motor vehicle related industry, was down 0.9 percent in April 2008.
The seasonally adjusted
value of the total ECT series was 1.4 percent higher in
April 2008 following a 1.0 decrease in March. The trend in
total ECT has slowed since December 2007. Easter generally
falls in April but occasionally occurs in March, as it did
this year. The timing of Easter may have contributed to the
movements in the total ECT series in March and April. This
impact was most likely in the non-retail component of
electronic card transactions. In April 2008, there were 83
million electronic transactions totalling $4.5 billion.
The Electronic Card Transaction series measures the number and value of debit, credit and charge card transactions with New Zealand-based merchants. It is a census of all card transactions processed within New Zealand. Transactions by overseas card-holders in New Zealand are included; transactions by New Zealand card-holders overseas are excluded.
The data is released as an experimental series and Statistics NZ acknowledges the cooperation of the private sector in providing the data for publication. Geoff Bascand
Government Statistician 21 May 2008
ENDS