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Durable goods, fuel boost card transactions

Monday 11th April 2011

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Sales of durable goods such as furniture and appliances helped boost electronic card transactions during March in the retail sector, but rising petrol prices also played a key role.

Figures from Statistics New Zealand (SNZ) today show a seasonally adjusted 0.5% rise in total electronic card transactions last month, while the retail industries were up 1.3%, and core retail - which excludes vehicle-related industries - rose 0.9%.

The actual value of transactions in core retail was 5.2% ahead of a year earlier.

The rise in core retail was driven by a seasonally adjusted 2.5% rise in sales of durables, which had fallen 2.4% in February, SNZ said.

Fuel retailing, which affected the overall retail figures but not core retail, was up 2.1%, having increased in each of the past eight months.

Transaction values in the two industries that fall outside retail both fell in March, resulting in the increase of just 0.5% in the total value of card transactions. Services were down 1.3%, and non-retail transactions excluding services fell 1%.



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