Card spending bounces back
Retail card spending recovered in January 2019 following a drop in December 2018, according to Stats NZ's latest figures.
Retail card spending statistics covers all debit, credit, and charge card transactions with New Zealand-based merchants. It can be used to indicate changes in consumer spending and economic activity.
Retail card spending rose in the motor-vehicle industry in January 2019, up $1.1m or 0.6 per cent on December 2018. However, the largest rise came from the durables industry, up $64m, followed by the apparel industry, up $8.6m.
When adjusted for seasonal effects, overall retail spending rose 1.8 per cent in January, after a 2.3 per cent fall in December.
“Spending in the durables industry bounced back from the December 2018 month,” retail statistics manager Sue Chapman said. “A lag in the processing of transactions may have contributed to the December and January movements.”
The total value of electronic card spending, including the two non-retail categories (services and non-retail), rose 2.0 per cent in January 2019. This follows a 1.9 per cent fall in December.
In actual terms, retail spending using electronic cards was $5.5 billion, up $187 million (3.5 per cent) from January 2018.