Retail spending on electronic cards rises 0.4%

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)


1 · 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

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 0.7064 0.0014 0.20%
AUD 0.9494 0.0025 0.26%
EUR 0.6327 0.0018 0.29%
GBP 0.5511 0.0009 0.16%
HKD 5.5059 0.0127 0.23%
JPY 78.6760 0.2290 0.29%

Commods

Commodity Price Change Time
Gold Index 1266.7 11.460 2017-05-26T00:
Oil Brent 52.5 0.720 2017-05-26T00:
Oil Nymex 49.8 0.910 2017-05-26T00:
Silver Index 17.3 0.130 2017-05-26T00:

Indices

Symbol Open High Last %
NZX 50 7441.6 7441.6 7441.6 -0.39%
NASDAQ 6207.0 6211.5 6205.2 0.08%
DAX 12588.8 12614.8 12602.2 0.04%
DJI 21070.2 21092.8 21083.0 -0.01%
FTSE 7517.7 7554.2 7517.7 0.40%
HKSE 25672.4 25744.7 25639.3 0.24%
NI225 19697.2 19736.6 19686.8 -0.02%
ASX 5751.2 5758.2 5751.7 -0.78%