Global Economic News

New Zealand June Credit Card Spending Climbs 0.6%

The value of overall credit card transactions in New Zealand jumped a seasonally adjusted 0.6 percent on month in June, Statistics New Zealand said on Thursday.

That was in line with expectations following the 1.4 percent jump in May.

Retail credit card spending gained 0.5 percent to NZ$4.3 billion - up NZ$206 million (5.0 percent) from June 2014. That also matched forecasts following the upwardly revised 1.3 percent gain in the previous month (originally 1.2 percent).

"Spending rose in four of the six retail industries," business indicators manager Neil Kelly said. "Fuel spending had the largest rise, returning to the levels seen before the price falls of late last year. The rise in fuel was partially offset by falls in apparel and durables spending."

Transactions in the core retail industries (which exclude the vehicle-related industries) were flat following a 0.4 percent rise in May.

Trends for the total, retail, and core retail series have generally been rising since these series began in October 2002, the bureau noted.

by RTTNews Staff Writer

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