Card spending increases for June

Graph, business, growthNew Zealand consumers spent more across all industries in June, according to Stats NZ.

Retail card spending rose 0.8 per cent, seasonally adjusted, following a 0.6 per cent increase in May.

The largest movement in spendings was in consumables, including grocery and liquor retailing, which rose by 0.6 per cent; up $11 million.

Fuel spending increased by $8.6 million (1.3 per cent), durables, including hardware, furniture and appliances rose by $5.8 million (0.5 per cent) and apparel, including clothing and footwear, rose by $4.3 million (1.5 per cent).

Actual retail spending using electronic cards was $5.1 billion, up $238 million (4.9 per cent) from June 2017.

Quarterly results tell a different tale

The June 2018 quarter, however, was relatively flat, with three industries up and three down, leading to a drop in spending by 0.2 per cent.

The largest fall came from consumables, down $36 million (0.6 per cent), following a rise of $88 million in the March 2018 quarter.

Retail card spending for the quarter rose to $15 billion; 3.5 per cent, or $518 million, above June 2017.


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