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NZ credit, debit card spending falls in March

Thursday 12th April 2012

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New Zealanders spent less on their credit and debit cards last month, led by a decline in spending on non-retail and fuel.

The value of total transactions fell a seasonally adjusted 0.2 percent to $5.42 billion in March, according to Statistics New Zealand. That follows a decrease of 0.3 percent in February.

Spending on core retail industries, which strips out motor-vehicle expenditure, rose 0.5 percent to $3.36 billion. This was boosted by rises in three of the four industry groups.

Spending in the hospitality industry showed the biggest gain, up $12 million, followed by consumables rising $8 million and apparel up $7 million.

The decrease was led by fuel down $16 million on a month earlier and non-retail which fell $22 million.

Unadjusted spending in core retail rose 5.8 percent from March 2011.

NOTE: please be advised to read full articles from Business Desk Website, you will have to pay a subscription fee on their website.

BusinessDesk.co.nz



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