Friday 13th January 2017
|Text too small?|
New Zealand seasonally adjusted retail spending on electronic cards eased in December although actual retail spending reached the highest-ever monthly figure as the tourism boom continued.
Retail spending fell a seasonally adjusted 0.1 percent last month, after a 0.1 percent drop in November and a 0.5 percent rise in October, Statistics New Zealand said. Actual retail spending climbed 5.8 percent to $6.5 billion in December from the same month a year earlier.
"This is the first month card spending in hospitality exceeded $1 billion," business indicators manager Tehseen Islam said. "The higher hospitality spending coincides with a period of rising international tourism and residents enjoying Christmas and New Year holiday breaks."
Core retail spending, which excludes vehicle-related industries, dropped 0.8 percent in December from November, with spending on durables down 1.5 percent. Hospitality rose 0.5 percent and apparel was up 1.3 percent.
Of the non-retail industries, non-retail excluding services was unchanged from November while spending in the services industry rose 1.1 percent.
Spending on fuel rose 4.4 percent, while vehicle spending slipped 0.1 percent.
In actual terms, card-holders made 153 million transactions in December with an average value of $54.
No comments yet
MARKET CLOSE: NZ shares fall as raft of earnings loom; Heartland, Fletcher drop, Sky TV, Air NZ gain
NZ dollar falls vs greenback, Aussie as investors seek clues over diverging rate tracks
NZ's housing-related imbalances set to peak in 2018, S&P Global says
Bapcor's ex-Hellaby auto unit still exceeding expectations
KiwiRail operating earnings rise despite Kaikoura line outage
Used car import body says 'short-term' hit from MPI's stink bug strategy worth it
CBL's European subsidiary fights Irish central bank ban on new business
ASX-listed Super Retail Group pays $144M for Macpac, more than twice the 2015 price
Mark Tume appointed chair of Ngāi Tahu Holdings board
ANZ extends Veritas' debt for a third time, seeking shareholder approval to sell Mad Butcher