Tuesday 14th January 2014
|Text too small?|
New Zealanders lifted retail spending on credit and debit cards last month, adding to signs an accelerating economy is making consumers more confident to open their wallets.
Total electronic card transactions at retailers rose 0.6 percent, seasonally adjusted, in December from November and were up 5.5 percent compared to December 2012, according to Statistics New Zealand.
Core retailing rose 0.9 percent, led by a 3 percent rise in apparel sales, a 2.1 percent increase in hospitality and a 0.7 percent gain in consumables such as food and liquor, the data shows. Spending on durables, which includes furniture and appliances, edged up 0.2 percent.
The gain in total retailing was helped by a 1.2 percent rise in fuel sales, while vehicle sales were unchanged.
The official figures come after Paymark, which processes 75 percent of all electronic transactions in New Zealand, reported last week that spending in December rose 7.5 percent from a year earlier, rounding out the fastest annual growth since 2008 and including "record smashing" sales on Christmas Eve and Boxing Day.
Total card spending rose 1 percent last month.
In unadjusted terms, there were 128 million transactions in December, with an average value of $56. The total spent was $7.2 billion.
No comments yet
Huawei committed to NZ even if govt doesn’t come around on spy fears
Mercury points to peaking gains as FY production drops 10%
Asset Plus sells Heinz Watties distribution centre for $29.1 mln
18th July 2019 Morning Report
COMMENT: RBNZ's key political omission in its bank capital proposals
ANZ and Westpac credit rating outlooks downgraded to 'negative' outlook: Fitch
MARKET CLOSE: NZ shares edge higher in quiet trading; weaker currency buoys exporters
NZ dollar stalled amid uncertainty about US rate cuts
RBNZ a 'poor communicator' - CBL's Harris
Methane reduction target could be catastrophic - Fonterra Shareholders' Council