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Card spending flat

Spending on fuel rose in October as petrol prices reached record levels, but less was spent on vehicles, according to Stats NZ.
Posted on 13 November, 2018
Card spending flat

Electronic card spending in retail industries was almost flat - up 0.1 per cent - in October 2018, when adjusted for seasonal effects. This follows a 1.2 per cent rise in September 2018.

“A quiet October for retail card spending followed rises of more than 1 per cent in both September and August,” retail statistics manager Sue Chapman said.

“Most retail industries showed softer results in October, except the fuel industry. Petrol prices at the pump reached a record high in October, then started falling towards the end of the month,” Chapman said.

Spending rose in four of the six retail industries in October 2018. The vehicle industry recorded a decrease in card transactions, with a drop of 2.0 per cent – or by $3.5 million - recorded for the October 2018 month when compared with September 2018. 

The largest rise was the fuel industry, up $9.1 million – or 1.4 per cent. The largest fall was the apparel industry, which includes clothing and footwear retailing, down $3.7 million - 1.2 per cent.