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

 

Positive growth trend continues in July

Positive growth trend continues in July
The mild July weather may have contributed to strong spending through the Paymark network, according to figures released today by the nation’s leading payments provider.

Paymark, which processes around three quarters of all electronic transactions in New Zealand, saw a 9.2 per cent increase in spending through its network nationally, between July 2012 and July 2013.

However, Paymark Head of Sales and Marketing Paul Whiston cautions that while the figures support the continued positive growth trend seen over the past twelve months, there are some contextual factors that need to be considered.

“There are several circumstances which are likely to have contributed to what appears, at face value, to be quite a spectacular lift in national spending,” he says. “July 2012 was a slow month, with five Sundays and poor weather. In contrast, we’ve just finished a July blessed with warmer weather and more workdays – which always impacts positively on spending figures.”

“In addition, petrol prices are around 10 per cent higher than a year ago, a factor which has likely influenced the increase.“

A continued increase in the number of contactless payments in recent months has also meant an increase in the total number of electronic transactions through the Paymark network.

“The number of monthly card transactions was 7.1 per cent up on a year ago. Contactless transactions were certainly a part of this, but it’s important to note that a lift in the number of transactions doesn’t necessarily point to an increase in spending. It may be that some contactless payments are beginning to displace cash.”

Retailers operating clothing stores (+3.7%), footwear shops (+0.1%) and department stores (+2.1%), continued to experience low annual growth during July, demonstrating that the overall lift is not echoed in all sectors.

“There are still retailers out there who are really struggling with the current market conditions and our figures are reflecting that,” continues Whiston. “Conversely, the likes of hardware stores, furniture and floor covering outlets, as well as takeaway food outlets and cafes and restaurants continue the momentum of strong annual growth.”

Regionally, annual spending growth was strongest in Palmerston North (+11.6%), Canterbury (+11.4%), Marlborough (+11.3%) and South Canterbury (+11.3%). Spending through the Paymark network once again declined on the West Coast (-0.6%).

PAYMARK Regional Data (July 2013 versus same month 2012)
Volume (million transactions)Value of spending ($millions)
RegionLast YearCurrent YearVolume DifferenceLast YearCurrent YearValue Difference
Auckland/Northland30.4432.777.7%$1,485.0$1,639.510.4%
Waikato5.646.016.5%$266.9$287.07.5%
BOP4.745.066.8%$229.4$248.08.1%
Gisborne0.700.768.9%$31.1$34.410.5%
Taranaki/Taupo1.841.956.0%$84.2$89.76.6%
Hawke’s Bay2.072.269.0%$97.8$107.29.6%
Wanganui0.890.956.8%$39.5$41.85.6%
Palmerston North2.452.585.4%$125.6$140.211.6%
Wairarapa0.710.755.4%$32.9$35.16.7%
Wellington8.558.954.6%$376.4$398.05.7%
Nelson1.381.487.5%$66.9$73.49.7%
Marlborough0.750.818.3%$36.2$40.311.3%
West Coast0.480.480.3%$25.9$25.8-0.6%
Canterbury8.509.299.3%$411.7$458.411.4%
South Canterbury1.191.298.5%$63.0$70.111.3%
Otago4.314.576.3%$210.0$226.98.1%
Southland1.701.795.3%$84.8$89.55.5%
New Zealand 76.3481.767.1%$3,700.9 $4,041.7 9.2%
(growth rate this time last year)1.7%0.8%

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Stats NZ: Election Boosts October Job Numbers

Job numbers were boosted by general election staff in October 2020, along with rises in the manufacturing, retail, and hospitality industries, Stats NZ said today. Filled jobs rose by 27,667 to 2.2 million in October 2020 compared with September, after ... More>>

Government: New Year Border Exception For Seasonal Workers In The Horticulture And Wine Industries

2000 additional RSE workers to enter New Zealand early next year employers must pay these workers at least $22.10 an hour employers will cover costs of managed isolation for the RSE workers RSE workers will be paid the equivalent of 30 hours work a week ... More>>

ALSO:

Grey Power: Is Disappointed To Learn Of More Bank Closures

Many older people are being left without essential services because of cost cutting and the march of modern technology. It is now expected that most banking transactions can occur via the internet or telephone. Jan Pentecost, President of the Grey Power ... More>>

ALSO:


Media: Discovery, Inc. Completes Acquisition Of New Zealand’s Mediaworks TV Ltd

Auckland, New Zealand, December 1, 2020 - Discovery, Inc. (“Discovery”), the global leader in real-life entertainment, has completed its acquisition of New Zealand’s leading independent free-to-air commercial broadcaster, MediaWorks TV Ltd, now operating ... More>>

Department Of Conservation: Big Year Underway At Albatross Colony

Familiar faces are returning for the new season of Royal Cam, with a big breeding year underway for the toroa/northern royal albatross colony on Otago’s windswept Pukekura/Taiaroa Head. More than 120 albatrosses, a taonga species, have returned ... More>>

Real Estate: ASB Survey Reveals Majority Of Kiwis Expect House Prices To Keep Climbing

ALSO:

House price expectations are soaring as New Zealand’s housing market shifts up a gear. But stretched affordability is putting a dent in perceptions of whether it’s a good time to buy. While Kiwis reveal they do expect interest rates to fall further. ... More>>

Stats NZ: Births And Deaths: Year Ended September 2020

Births and deaths releases provide statistics on the number of births and deaths registered in New Zealand, and selected fertility and mortality rates. Key facts For the year ended September 2020: 57,753 live births and 32,670 deaths ... More>>

ALSO: