Modest rise for card spending
Retail card spending nudged up for the month of May, Stats NZ said today. The modest 0.4 per cent increase was led by consumer spending on household essentials but was limited by the fall in spending in the vehicle industry.
When adjusted for seasonal effects, total retail card values rose 0.4 per cent in May 2018, following a substantial 2.2 per cent fall in the April month.
“Retailers outside the realm of food and fuel trading have had a relatively quiet month with half the retail industries showing falls” retail trade manager Sue Chapman said.
The vehicle industry, which excludes fuel, was one of the retail industries showing a decrease. Vehicles were down $3 million or 1.6 per cent last month compared to April 2018.