Sharechat Logo

NZ retail spending on credit, debit cards rises 0.5 percent in April

Wednesday 12th June 2013

Text too small?

New Zealand retail spending on credit, debit and store cards rose more than expected in May, led by fuel, food and liquor and hospitality.

Sales rose 0.5 percent, seasonally adjusted, last month and were up 5.4 percent year-on-year, according to Statistics New Zealand. Monthly sales were forecast at 0.4 percent for a 4.6 percent annual gain, according to a Reuters survey. Total card spending rose 0.6 percent.

The electronic card figures capture around two third of the nation's total retail sales and provided the most timely snapshot of the sector. Total retail sales rose 0.5 percent in the first quarter, slowing from a 1.9 percent pace three months earlier, figures last month showed.

The biggest increases in the latest month were a 3.8 percent gain in fuel sales, 1.1 percent rise in consumables and 1.6 percent increase in hospitality.

In unadjusted terms, there were 112 million transactions last month with an average value of $51. Total spending was $5.8 billion.

BusinessDesk.co.nz

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
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:

NZ shares take a breather after hitting a fresh record
NZ dollar gains against Aussie as Westpac picks two RBA rate cuts
NZ Windfarms cans asset sale, plans share buyback
Livestock Improvement more than doubles FY net profit
Asians, men more confident in financial markets than Pacific Islanders, women and poor people
June trade surplus $365M, higher than expected
Govt opts for sweeping review of 'underperforming' RMA
AFT gains Australian registration for intravenous Maxigesic
24th July 2019 Morning Report
Should Fletcher Building persist with Australia?

IRG See IRG research reports