Spending on vehicles drops
Retail card spending on motor vehicles fell by $1 million – or 0.5 per cent – in April, when compared with the numbers seen in the month prior.
It took the industry’s seasonally adjusted figure for last month to $201m, which is the lowest monthly amount recorded since September 2022.
April’s total also represented a drop of $11m, or 5.2 per cent, from the same month of 2023 when $212m was splurged on motor vehicles using electronic cards.
The latest seasonally adjusted values from Stats NZ show all retail categories suffered a drop in retail card spending last month, including fuel shedding $6.1 m, or 1.1 per cent, to $560m.
It meant the overall total forked out by consumers in the retail industries decreased by $25m, or 0.4 per cent, month-on-month to $6.5 billion.
In actual terms, cardholders made 160m transactions across all industries in April, with an average value of $55 per transaction. The total amount spent using cards was $8.8 billion.
