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New Zealand Retail Credit Card Spending Rises In April

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Retail credit card spending in New Zealand added a seasonally adjusted 0.3 percent on month in April, Statistics New Zealand said on Friday.

That missed forecasts for an increase of 0.6 percent following the flat reading in March.

"Spending rose in three retail industries during April, and fell in three," business indicators manager Neil Kelly said. "Fuel and consumables had the largest rises, while apparel had the largest fall."

The three largest retail movements in April were: fuel, up NZ$11 million (1.5 percent); consumables, up NZ$11 million (0.7 percent); and apparel, down NZ$8 million (2.7 percent).

Core retail spending, which excludes motor vehicle-related industries, was up 0.1 percent.

Overall credit card spending was down 0.4 percent on month after easing 0.2 percent in the previous month.

The two non-retail industries both decreased in April, resulting in a 0.4 percent fall in the total value of transactions.

Trends for the value of transactions in the retail and core retail series have continued to increase since these series began in October 2002.

In unadjusted terms, 113 million transactions were made across all industries in April, with an average value of NZ$51.

The total amount spent across all transactions was NZ$5.8 billion.

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