The value of electronic card transactions (ECT) rose a seasonally adjusted 0.9 percent in October, following rises in GST and fuel taxes at the start of the month.Statistics New Zealand (SNZ) figures published today show a seasonally adjusted 8.4 percent
The value of electronic card transactions (ECT) rose a seasonally adjusted 0.9 percent in October, following rises in GST and fuel taxes at the start of the month.
Statistics New Zealand (SNZ) figures published today show a seasonally adjusted 8.4 percent rise in fuel ECTs last month, the largest monthly increase since December 2003.
ECT spending on durable items, such as furniture, hardware and appliances, fell 6 percent, the largest decrease since the series began in October 2002, SNZ said.
In September, durables had risen 4.1 percent ahead of the October 1 rise from 12.5 percent to 15 percent in GST, which is included in the ECT figures.
For the retail industries the seasonally adjusted rise in ECTs in October was 0.8 percent. Non-retail transactions, which include services such as travel and health, and wholesaling, were up 0.4 percent
Core retailing, which excludes vehicle-related industries, rose less than 0.1 percent.
Consumables, such as food, liquor, and chemist retailing, rose 2.4 percent, with apparel lifting 2.7 percent, and hospitality up 1.2 percent.
But those increases were almost entirely offset by the 6 percent fall in durables.
