New Zealand May Credit Card Spending Jumps 0.5%
June 11 2018 - 2:20PM
RTTF2
Overall credit card spending in May climbed a seasonally
adjusted 0.5 percent on month in May, Statistics New Zealand
said.
That follows the upwardly revised 0.7 percent decline in April
(originally -0.9 percent).
Retail credit card spending picked up 0.4 percent on month -
well shy of expectations for a gain of 1.2 percent following the
2.2 percent contraction in the previous month.
Core retail spending (which excludes vehicle-related industries)
rose 0.4 percent in May following a 2.1 percent fall in April.
"Retailers outside the realm of food and fuel trading have had a
relatively quiet month with half the retail industries showing
falls," retail trade manager Sue Chapman said. "Spending on
personal and household services and non-retail industries including
travel, health, and wholesale also dropped in May."
Card spending rose in three of the six retail industries. The
largest movements were:
• consumables, including grocery and liquor retailing, up NZ$28
million (1.4 percent) - rebounding from April's 3.6 percent
fall;
• fuel, up NZ$6 million (0.9 percent);
• apparel, including clothing, footwear, and accessories, down
NZ$5 million (1.8 percent).
Actual retail spending using electronic cards was NZ$5.2 billion
in May, up NZ$208 million (4.2 percent) from a year earlier.
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