Card spending down in May

Retail electronic card spending dipped in May following April’s rise, Stats NZ has said. Monthly retail card spending fell 0.4 per cent compared to April, when seasonally adjusted, to $5.16 billion. The largest fall came from the consumables industry, including grocery and liquor retailing, which was down $12 million, or 0.7 per cent. Compared to May 2016, however, retail spending was up $250 million, or 5.2 per cent. “The fall in retail card spending in May was driven by an easing of consumables spending, after a record increase in April,” business indicators manager Craig Liken said. “Fuel spending was also down, with lower prices throughout the month.” Spending for fuel was down $11 million, or 1.8 per cent. Sales of vehicles, excluding fuel, remained static at $166 million for the third month in a row. Year-on-year, card sales have increased $8 million, or 5.06 per cent.