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New Zealand Overall Credit Card Spending Eases 0.1% In September

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Overall electronic spending in New Zealand fell a seasonally adjusted 0.1 percent on month in September, Statistics New Zealand said on Tuesday.

That was shy of expectations for an increase of 0.2 percent, and was down from the 0.6 percent gain in August.

Retail credit card spending gained 0.1 percent on month, also missing forecasts for an increase of 0.7 percent. But it was unchanged following an upward revision from -0.2 percent in the previous month.

Core retail spending (excluding fuel and vehicles) fell 0.2 percent in September, after added 0.1 percent in August.

By industry the movements were: durables, down NZ $15 million (1.2 percent); apparel, down NZ$3.3 million (1.1 percent); hospitality, down NZ$1.9 million (0.2 percent); vehicles (excluding fuel), down NZ$0.1 million (0.1 percent); fuel, up NZ$5.2 million (0.9 percent); and consumables, up NZ$15 million (0.8 percent).

Cardholders made 137 million transactions across all industries in September, with an average value of NZ$48.

The total amount spent across all transactions was NZ$6.6 billion.

For the third quarter of 2017, the total value of electronic card spending was up 0.4 percent following a 0.8 percent rise in the June 2017 quarter.

Spending in the retail industries fell 0.1 percent, while spending in the core retail industries rose 0.9 percent.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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