Monday 10th January 2011
|Text too small?|
Shoppers spent nearly 4% more in December than a year ago, indicating modest but improving growth in the hard-hit retail sector, according to figures from payment system operator Paymark.
The value of transactions last month was up 3.9% on a year earlier, beating the 2.8% growth averaged for the first 10 months of 2010 and matching the rate of growth for December 2009.
"While the increase in activity towards the back-end of 2010 would have been an encouraging way for retailers to end the year, the situation remains one where the near-term should be approached with caution," said Paymark head of sales and marketing Paul Whiston.
Excluding essential spending on petrol and at supermarkets, spending rose 2.7% in December, up from 0.8% growth earlier in the year.
Spending on takeaways was up significantly, by 24%, and was up 7% on dining out and on general food and alcohol, Whiston said.
Indicating continued caution about taking on debt, debit card usage was up 5.9% and credit card use was down 0.8% last month.
The number of electronic card transactions was up 4.2% for December, compared with growth of 6.5% a year earlier.
Paymark processes three quarters of the country's electronic transactions.
No comments yet
New Zealand Rural Land Company Limited (NZX: NZL) Agreement to acquire large scale dairy asset portfolio
EROAD Limited (NZX: ERD) launches Clarity Solo Dashcam
22nd October 2021 Morning Report
Pictor ready to roll out game-changing COVID antibody test in New Zealand
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