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Retail Card Spending Increases In January 2023
Retail card spending rose $171 million (2.6 percent) in January 2023 compared with December 2022 when adjusted for seasonal effects, Stats NZ said today.
Seasonally adjusted retail card spending, as well as total card spending increased in January 2023 following a fall in December 2022. The rise in retail spending was led by an $80 million (5.1 percent) increase in the durables category, which includes items such as furniture, hardware, and appliances.
“The increase in spending on durables came after decreases in November and December last year,” business performance manager Ricky Ho said.
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