Electronic card spending up again in October

Free audio stream, including stories that are padlocked on our site. Listen on any device, anywhere. Updated twice daily. The audio stream takes several seconds to start on Android devices.

Launch Radio player

New Zealanders and visitors to the country spent more on their credit and debit cards again in October, Statistics NZ said today. 

The seasonally adjusted value of electronic card transactions rose 1.8% in October, the largest increase since January 2011. This month's rise follows a 0.4% rise in September.

“Although we can’t confirm the extent of their influence, it certainly appears that the Rugby World Cup and the later-than-usual school holidays boosted electronic card spending in October,” acting industry and labour statistics manager Tehseen Islam said.

The biggest increases in spending came from non-retail (up $28 million), fuel retailing (up $24 million), and apparel (up $13 million). Consumables (down $2 million) was the only industry where electronic card spending fell in October.

Across all retail industries, spending was up 1.5% in October, while core retailing (which excludes the motor vehicle-related industries) was up 0.9%.

Trends for the value of total transactions and retail transactions have both been increasing since January 2009. The core retail trend has generally been increasing since the series began, but the growth rate has slowed since April 2011.  


This article is tagged with the following keywords. Find out more about MyNBR Tags

Comments & Questions

Commenter icon key: Subscriber Verified

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7638 -0.0015 -0.20%
AUD 0.9937 0.0024 0.24%
EUR 0.7122 -0.0004 -0.06%
GBP 0.5133 -0.0005 -0.10%
HKD 5.9190 -0.0121 -0.20%
JPY 91.2040 -0.0860 -0.09%

Commods

Commodity Price Change Time
Gold Index 1193.3 -9.400 2015-04-20T00:
Oil Brent 63.5 0.000 2015-04-20T00:
Oil Nymex 57.9 2.170 2015-04-20T00:
Silver Index 15.9 -0.340 2015-04-20T00:

Indices

Symbol Open High Last %
NZX 50 5824.3 5840.7 5824.3 -0.16%
NASDAQ 4958.1 5000.2 4931.8 1.27%
DAX 11942.4 12019.8 11998.9 -2.58%
DJI 17841.2 18092.2 17826.3 1.17%
FTSE 7060.4 7093.5 7060.4 -0.93%
HKSE 27808.2 27969.4 27739.7 -0.31%
NI225 19810.4 19815.2 19885.8 -1.17%