The Rugby World Cup parade has been and gone, and it shows in the latest figures regarding electronic card spending last month.
Card spending remained flat for November with a minor decrease of 0.2% in transactional value following a 1.8% increase the previous month.
Retail industry spending dropped 0.5% in November with core retailing down 1.3%, excluding motor vehicle related industries. However, when the two industries outside of the retail market are incorporated into the overall results (non-retail and services), the total value of transactions decreased by 0.2%.
Core retail figures across consumable, hospitality, and apparel industries all dropped down $14 million, whereas the durables industry was the only core industry where electronic card spending rose in November where it rose $2 million.
In contrast, the value of transactions in fuel retailing received the largest rise, up $24 million, making November the fourth consecutive month of strong rises in the industry.
These figures could have been significantly lower due to the passing of the Rugby World Cup ‘cash injection’, but with the holiday season just around the corner it seems that Christmas shoppers have prevented these losses from gaining any further momentum.
This article is tagged with the following keywords. Find out more about MyNBR Tags
Most listened to
- Business Week in Review with Grant Walker & Andrew Patterson
- The kiwi dollar has spiked against the pound in one of the biggest one day currency moves in history. NBR’s Jason Walls breaks down the dollar’s movement
- What Brexit now means for NZ, with NZIER John Ballingall
- Dr Oliver Hartwich says everyone should stay calm and carry on
- Matthew Hooton on making a moral case for social capital