Sharechat Logo

NZ credit, debit card spending rises 0.6% in April, snapping two monthly declines

Friday 11th May 2012

Text too small?

New Zealanders spent more on their credit and debit cards in April than they did in the same month a year earlier, snapping two monthly declines. The seasonally adjusted value of total transactions on electronic cards rose 0.6 percent to $5.46 billion last month, according to Statistics New Zealand.

That's the second gain in the past six months. Core retail spending, which strips out motor vehicle-related expenditure, rose 0.7 percent to $3.39 billion, with a 1.1 percent gain in consumables, a 1 percent increase in durables and a 1.4 percent rise in hospitality.

Spending on apparel bucked the trend, falling 3.7 percent to $271 million in April. The figures come after Warehouse Group, the country's biggest listed retailer, said clothing and footwear were the only divisions that didn't show a pick-up in consumer demand in the three months ended April 29, which captures the latest data.

Credit and debit card spending on fuel fell 1 percent to $611 million, while vehicle expenditure excluding petrol fell 0.4 percent to $109 million. Spending on services shrank 0.4 percent to $168 million. Non-retail industries gained 0.5 percent to $1.18 billion.

Unadjusted total spending on electronic cards climbed 1.4 percent to $5.24 billion in April. Credit card use as a proportion of total spending dropped to 42.9 percent, its smallest monthly proportion since September. The figures come ahead of Statistics NZ's retail trade survey for the first three months of the year on Monday.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Further Contract Win Strengthens Scott Technology’s Position In Mining Sector
China’s Assertiveness Is Becoming a Problem for Its Friends, Too
New Talisman - Chairman’s Address to AGM 2020 August 6, 2020
T&G reports its 2020 Interim Results
Gold price hits $2,000 for first time on Covid
TruScreen strengthens its market presence in central and eastern Europe
Refining NZ announces non-cash impairment
Ryman Healthcare COVID-19 update Victoria
Talisman Quarterly Activities Report to 30 June 2020
General Capital gives notice of Annual Meeting

IRG See IRG research reports