Electronic card retail spend up 0.8% in February – fifth straight gain
"Here's another 'inconvenient truth' that flies in the face of the left's invented and manufactured 'crisis'."
Featured commentNew Zealand retail spending on electronic cards rose for the fifth straight month in February, adding to signs consumers are becoming more confident.
Retail last month spending on credit, debit and charge cards rose 0.8 percent, seasonally adjusted, according to Statistics New Zealand. That is the biggest gain since August last year and beats the median forecast in a Reuters survey of 0.5 percent.
Retail spending in February was up 2.5 percent from a year earlier, slowing from a 5.8 percent gain in January from a year earlier.
The survey covers about two-thirds of all retail spending and provides the only government estimate of monthly spending after the retail sales series was reduced to a quarterly survey.
Spending on durables, which includes furniture and home appliances, rose 1.4 percent in the latest month, while on consumables, such as food and liquor, it gained 0.6 percent. Spending on fuel fell 1.5 percent.
Core retailing, which excludes motor vehicle-related industries, rose 0.7 percent and total electronic card spending gained 0.8 percent.
Actual spending amounted to 101 million transactions with an average value of $54 for a total spend of $5.4 billion.
(BusinessDesk)
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Comments and questions5
Yep - here's another "inconvenient truth" that flies in the face of the left's invented and manufactured "crisis".
Guess they'll have to invent something else now to have a whinge at while trying to blame the government.
Surely the left political parties would do much better if only they had credible alternatives to offer NZ Inc - in a concise, detailed manner. That's their recipe and formula to win the next election - just come up with credible, fully detailed and costed policies.
Cutting down the tall poppies in spiteful envy is getting somewhat tiresome and the public expect credible alternatives. Unless, of course, you can't think of any even with years in opposition - and all you can do is shrill " the sky is falling"...
But isn't everything is John Key's fault? They seem to think so.
Agree with you. All they have to do is offer a good plan but instead we get "Don't sell our assets!" When questioned how they would raise the money to clear the deficit all we get is "Well, errr, we'll build affordable housing at a cost of $2.87 each", followed by a quick jibe at John Key, then it's back to the office for more plans to be pulled out of the hat.
Over 200k subscribers to MRP float. Maybe we can wave that in the face of the people on the high street with the clipboard wanting me to sign their stupid petition.
Their hat?? I think, if you look closely, you will find that that is not the part of their anatomy from which their ideas are pulled from.
How do you relate electronic spending increases with NZ manufacturing? Unless you can cite data that NZ manufactured goods have lead to the increase then you pulling it out of your ****
The danger is that as house prices spiral out of control, people perceive they have more wealth. They can then increase their mortgage because banks will lend more if the house price has gone up, hence up goes the debt as people spend more borrowed money on imports.
If exports do not increase, then this is a very dangerous practice and the Reserve Bank should be applying the brakes fast!
History repeats itself and many people will be burnt.