Electronic card spending up 0.3% in October on hospitality gain
Spending rose in four of the six industries.
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Budget 25
New Zealand retail spending on electronic cards rose in October, boosted by the hospitality industry as people spent more eating out.
Seasonally adjusted retail spending on credit and debit cards rose 0.3 percent from September, when it also rose 0.3 percent on the month, Statistics New Zealand said in a statement. Total spending, including non-retail industries, rose 0.4 percent on the month after a flat result in September.
"The latest increase in the hospitality industry reflected spending in bars, cafés and restaurants, and takeaway shops," Stats NZ retail manager Sue Chapman said.
Spending rose in four of the six industries. The largest movement was in the hospitality industry, up $15 million or 1.5 percent. Spending on durables fell $5.7 million or 0.5 percent while apparel spending rose $800,000 or 0.3 percent and expenditure on consumables was up $2.2 million or 0.1 percent. Spending on fuel fell $4.7 million or 0.8 percent while spending on motor vehicles was up $1 million or 0.6 percent.
Today's figures show actual retail spending climbed 1.2 percent to $5.2 billion in October from the same month a year ago. Card-holders across all industries made 143 million transactions in October versus 137 million in September. The average value was steady at $48.
(BusinessDesk)
Rebecca Howard
Fri, 10 Nov 2017
Fri, 10 Nov 2017
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Electronic card spending up 0.3% in October on hospitality gain
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