Monday 7th February 2011
|Text too small?|
Growth in spending by shoppers using the electronic network operated by Paymark slowed in January, particularly on stormy days.
Annual growth in spending of 3.2% in January was down from 3.9% growth in December, and was the slowest rate since August 2010.
Paymark processes more than 75% of all electronic transactions in this country.
"The weaker figures appear to be a combination of wet weather and a general economic step-back," Paymark said.
Sales on January 23, when many regions experienced wild weather, were down 1.9% on the same trading day the previous year.
For the 14 days prior to this storm, the nationwide growth rate in spending averaged 4.1%.
People continue to use their own money, with credit card usage down 0.6%.
Takeaways, which saw a big increase in late December, had another spending upsurge in January with a year-on-year increase of 25%.
Hardware was also up 5% for the month.
The 3% growth in spending on clothing in January was down from 7% growth in November, while spending on accommodation has slowed to 2% growth year-on-year.
No comments yet
Scott Technology Limited (NZX: SCT) Announces FY21 Results
21st October 2021 Morning Report
Greenfern Industries Limited (NZX: GFI) L&Q Notice
TruScreen Group Limited (NZX: TRU) Clinical Trial Results Highlight Efficacy of TRU Technology
20th October 2021 Morning Report
Freightways Limited (NZX: FRE) Acquisition of ProducePronto
19th October 2021 Morning Report
PGG Wrightson Limited (NZX: PGW) Guidance Update
Vital Limited (NZX: VTL) Provides Update on PSN LMR
18th October 2021 Morning Report