Retail card spending dipped in July 2019
12 August 2019
Retail card spending dipped in July 2019, Stats NZ said today.
Retail card spending has been flat for most of 2019, dipping 0.1 percent in July, when adjusted for seasonal effects.
Compared with June 2019, spending fell across most retail industries. The only increase came from the fuel industry, which was up $15 million (2.7 percent).
“This increase is likely due to higher fuel prices at the pump,” retail statistics manager Sue Chapman said.
For the retail industries, the biggest falls in July were seen for durables (hardware, appliances, department stores, and pharmaceuticals) and apparel (clothing, footwear and accessories). Durables fell by $11 million (0.9 percent) and apparel fell by $10 million (3.2 percent).
Core retail spending (excluding vehicle-related industries) fell 0.5 percent in July, after a 0.3 percent rise in June.
The total value of electronic card spending, including the two non-retail categories (services and non-retail), fell 0.3 percent in July, following no change in June 2019. The non-retail category includes travel, health, and wholesaling.
In actual terms, retail spending using electronic cards was $5.2 billion, up 1.6 percent ($84 million) from July 2018.
Values are only available at the national level, and are not adjusted for price changes.
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