World Cup spending 'kick-off' welcome

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

A predicted Rugby World Cup spending boost is expected to be a welcome relief for retailers.

According to electronic transaction company Paymark, trading conditions across most sectors have been soft for the last couple of months.
 
The value of transactions through the Paymark network increased 3.2% (year-on-year) in July and 4.1% in August. Both of these rates, as well as the average of 3.7% for the two months, are below the 4.4% growth rate averaged in the first half of the year.
 
Paymark head of sales and marketing Paul Whiston, says that the figures are typical of a mixed trend that has been noticeable over the past 12 months.  
 
“It’s been fairly flat out there with sectors experiencing highs and lows at different points throughout recent months. This pattern has come through consistently over the past year and I think it would be fair to say that few businesses have escaped the mixed spending patterns.”

Annual spending growth was above the year-to-date average in Auckland/Northland (up 7 %) during August – second only to Bay Of Plenty (+7.3 per cent).

Conversely, merchants in other regions including those experiencing slow-to-negative annual growth between August 2010 and August 2011 such as Wairarapa (down 0.3%), Canterbury (down 3.5%) and Marlborough (down 2.4 per cent), meaning they may be looking for a kick-start from the World Cup.


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

Forex

Sym Price Change
USD 0.6708 -0.0077 -1.13%
AUD 0.8783 -0.0032 -0.36%
EUR 0.6074 -0.0022 -0.36%
GBP 0.4297 -0.0029 -0.67%
HKD 5.2000 -0.0603 -1.15%
JPY 82.6530 -0.3880 -0.47%

Commods

Commodity Price Change Time
Gold Index 1169.3 -2.700 2015-07-01T00:
Oil Brent 62.5 1.290 2015-07-01T00:
Oil Nymex 56.9 -2.070 2015-07-01T00:
Silver Index 15.6 -0.021 2015-07-01T00:

Indices

Symbol Open High Last %
NZX 50 5794.4 5810.6 5794.4 0.27%
NASDAQ 5029.1 5038.6 4986.9 0.53%
DAX 11050.3 11283.8 10945.0 2.15%
DJI 17638.1 17801.8 17619.5 0.79%
FTSE 6521.0 6637.3 6521.0 1.34%
HKSE 25944.0 26470.4 25967.0 1.09%
NI225 20565.9 20575.7 20329.3 1.21%