Christmas shoppers spend up on plastic

Christmas shoppers used plastic cards to spend up on pretty much everything except fuel, Statistics New Zealand says.

The value of electronic card spending in retail industries rose 0.3 percent in December from November. It was the third consecutive monthly increase.

The value of total electronic card transactions rose by 0.4 percent in December.

The data suggested a more healthy retail environment at the end of 2012, ASB economists say.

"A trend of gradually improving retail spending poses little concern to the Reserve Bank of New Zealand's inflation outlook, and consumer spending for now remains constrained by high levels of household debt and a somewhat soft labour market," Daniel Smith, an economist at ASB Institutional, says.

He expects the official cash rate to remain on hold until December 2013.

Fuel was the only industry in which the value of transactions fell, down 3.5 percent in December compared with November.

Transactions for core retailing, excluding motor vehicle-related industries, increased 0.5 percent in December.

Electronic purchases of consumables rose 0.8 percent, more than the 0.6 percent rise in durables.

Electronic transactions make up about 65 percent of retail spending. In unadjusted terms there were 122 million transactions in December with an average value of $56.


Got a question about this story? Leave it in Comments & Questions below.

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


Sym Price Change
USD 0.6450 0.0014 0.22%
AUD 0.9147 0.0018 0.20%
EUR 0.5753 0.0012 0.21%
GBP 0.4248 0.0005 0.12%
HKD 5.0022 0.0077 0.15%
JPY 77.4300 0.2780 0.36%


Commodity Price Change Time
Gold Index 1136.7 25.250 2015-10-02T00:
Oil Brent 48.8 0.950 2015-10-02T00:
Oil Nymex 46.0 0.800 2015-10-02T00:
Silver Index 15.3 0.752 2015-10-02T00:


Symbol Open High Last %
NZX 50 5585.4 5600.6 5585.4 0.14%
NASDAQ 4566.1 4707.8 4627.1 1.74%
DAX 9606.6 9667.5 9509.2 0.46%
DJI 16258.2 16472.8 16272.0 1.23%
FTSE 6072.5 6176.2 6072.5 0.95%
HKSE 21172.9 21530.8 20846.3 3.17%
NI225 17564.4 17775.8 17722.4 0.02%