Consumers lift spending on credit, debit cards

The value of electronic transactions rose 0.5% from the previous month to $4.8 billion, according to Statistics New Zealand. Excluding fuel and auto-related spending, the value of transactions rose 1%.

There were 90 million card transactions in October, according to the report.

The NZSE Consumer Index, which tracks prices of retailers and other consumer-related companies, fell 0.9% today and is down 41% in the past 12 months, making it the second worst performing sector on the NZX after building materials and construction.

By Jonathan Underhill

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