Credit, debit card spending up in January

CLAIRE ROGERS
Last updated 12:00 12/02/2013

Relevant offers

Industries

Medusa turns gaze to 'tough' Auckland market Residents dig deep to oppose mining plan Petrol prices under the microscope Court rips into poor communications Wool deal puts sector on track for unity Insurer pays for holding premiums Trans-Tasman airfares a bargain Contact's billing 'like Novopay' Warehouse profit hit by revamp costs Bell Tea properties sold in Auckland, Dunedin

Shoppers fuelling their stomachs and cars helped boost card spending last month.

Statistics New Zealand said spending on credit and debit cards rose a seasonally adjusted 0.4 per cent last month, compared to December.

Four of the eight industry groups saw spending lift, with the biggest jumps in consumables - which includes food and liquor retailing - up 0.8 per cent or $13 million, and fuel - up 1.9 per cent or $13m.

Core retail, which excludes non-retail and vehicle-related spending, rose 0.3 per cent last month, but consumables was the only one of the four core retail industries to increase.

Card spending on durables, which includes big ticket items such as furniture, hospitality and apparel all slipped off in the month.

Total retail spending, including fuel and vehicle expenditure, also rose 0.3 per cent.

On an unadjusted basis there were 107 million card transactions last month, with an average value of $52. The total spend on cards was $5.6 billion.

Paymark, which processes about three-quarters of electronic transactions, said yesterday spending in January had increased for the fourth consecutive month.

Spending rose 5.1 per cent or $191m more last month compared to January 2012, it said, and a seasonally adjusted 0.6 per cent compared to December.

Ad Feedback

- BusinessDay.co.nz

Special offers

Featured Promotions

Sponsored Content