Credit card spending rises again


visa-mastercard-credit-card-amexIn the month of August, core retail spending using electronic cards increased by a seasonally adjusted 0.6 per cent, reported Statistics New Zealand.

Total core spending was $3.784 billion, compared with $3.760 billion in the month of July.

Consumables increased by 0.6 per cent, an increase of $9.5 million, and hospitality increased by 1.4 per cent, and increase of $9.8 million. There was a decrease in apparel spending of 0.4 per cent.

Business indicators manager Neil Kelly said that the main drivers of August’s retail increase were the hospitalities and consumables industries.

The number of transactions in the core retail industries in August was 87 million, an increase of 5.9 per cent from August 2013.

Corresponding figures for retail industries (retail trade, accommodation and food services) were 102 million, an increase of 5.7 per cent.

Debit card spending accounted for 56.4 per cent of total card spend, an increase from 56.1 per cent in July.

Total retail spending (including vehicle-related industries) was $4.685 billion, a seasonally adjusted 0.5 per cent increase from July.

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