NZ credit, debit card spending rises 0.6% in April
New Zealanders spent more on credit and debit cards in April than they did in the same month a year earlier, ending two monthly declines.
BUSINESSDESK: New Zealanders spent more on their credit and debit cards in April than they did in the same month a year earlier, ending two monthly declines.
The seasonally adjusted value of total transactions on electronic cards rose 0.6% to $5.46 billion last month, says Statistics New Zealand - the second gain in the past six months.
Core retail spending, which strips out motor vehicle-related expenditure, rose 0.7%to $3.39 billion, with a 1.1% gain in consumables, a 1% increase in durables and a 1.4% hike in hospitality. Spending on apparel bucked the trend, falling 3.7% to $271 million in April.
The figures come after Warehouse Group, the country's biggest listed retailer, said clothing and footwear were the only divisions that didn't show a pick-up in consumer demand in the three months ended April 29, which captures the latest data.
Credit and debit card spending on fuel fell 1% to $611m, while vehicle expenditure, excluding petrol, slid 0.4% to $109m.
Spending on services shrank 0.4% to $168m, while non-retail industries gained 0.5% to $1.18 billion.
Unadjusted total spending on electronic cards climbed 1.4% to $5.24 billion in April.
Credit card use as a proportion of total spending dropped to 42.9%, its smallest monthly proportion since September.
The figures come ahead of Statistics NZ's retail trade survey for the first three months of the year on Monday.
Paul McBeth
Fri, 11 May 2012
Fri, 11 May 2012
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NZ credit, debit card spending rises 0.6% in April
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