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Retail Card Spending Falls In December 2022
Retail card spending fell $166 million (2.5 percent) in December 2022 compared with November 2022, when adjusted for seasonal effects, Stats NZ said today.
“The fall in retail card spending is large for a December month, and this month’s drop is the first in nine months,” business performance manager Ricky Ho said.
While December 2022 retail card spending rose in actual terms, the increase was smaller than those typically seen in past December months. After adjusting for normal seasonal patterns, this resulted in a decrease for the December 2022 month.
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