Spending hits record

Retail card spending rose 0.5 percent in the December 2017 month when adjusted for seasonal effects, Stats NZ said today. This is the fourth consecutive monthly rise in retail card spending. These statistics are a great indication as to what changes are happening in consumer spending and economic activity.  December quarterly Retail card spending was up 1.3 percent in the December 2017 quarter when adjusted for seasonal effects, after a 0.2 fall in the September 2017 quarter. Retail card users spent $512 million on vehicles this quarter, a $5.5 million or 1.1 per cent increase compared to the previous quarter in September. The December quarter is now the highest quarter on record. Spending also rose in four of the six retail industries in the December quarter. The largest rises came from the hospitality (up $51 million or 1.8 percent) and consumables industries (up $51 million or 0.9 percent). December monthly When adjusted for seasonal effects, total retail spending using electronic cards was up 0.5 percent in the month of December. The total was boosted by a 4.0 percent rise in fuel spending. Vehicles (excluding fuel) was down $0.2 million for December 2017, compared with November.