Retail spending on electronic cards rises 0.4%

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 Zealand retail spending on electronic cards rose as expected last month, led by fuel, motor vehicle-related spending and durables.

Spending on debit, credit and charge cards rose 0.4%, seasonally adjusted, in October, following a 0.6% decline in the previous month, Statistics New Zealand says. Core retail, which excludes motor vehicle related spending, gained 0.2%.

Consumer-related stocks on the NZX 50 Index have been among the biggest gainers this year, with a 35% gain based on the NZSE Consumer Index, outpacing the broader market. Briscoe Group has climbed 49% this year, while jeweller Michael Hill International is up 39%.

The 0.4% gain in the latest month matched the forecast in a Reuters survey. Actual sales were up 3.2% from a year earlier.

Spending on fuel rose 1.6% and spending on durables, which include furniture, hardware and appliances, rose 0.7% in October. Consumables, such as food and liquor, fell 0.6% after a decline of 0.7% the previous month.

The electronic cards data covers about two-thirds of retail spending in New Zealand.

Total card transactions, including those not related to retailing, also rose 0.4%.

(BusinessDesk)


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

1 Comment & Question

Commenter icon key: Subscriber Verified

Anyone know if the rumour of Goodmans announcing another capital raising next week are true? Underwritten by ACC and the likes no doubt

Reply
Share
  • 0
  • 0

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 0.7698 0.0045 0.59%
AUD 0.9946 0.0033 0.33%
EUR 0.7194 0.0068 0.95%
GBP 0.5172 0.0034 0.66%
HKD 5.9656 0.0345 0.58%
JPY 91.9250 0.6350 0.70%

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 -0.12%
NASDAQ 4958.1 5000.2 4931.8 1.27%
DAX 11994.8 12079.0 11891.9 0.67%
DJI 17841.2 18092.2 17826.3 1.17%
FTSE 7052.1 7105.1 7052.1 0.24%
HKSE 27404.2 27925.4 27094.9 2.79%
NI225 19731.6 19909.1 19634.5 1.40%