Electronic card spending rises in October

credit cardRetail spending on electronic cards rose in October, boosted by spending on fuel.

Total retail spending on electronic cards, which covers debit, credit and charge card transactions with New Zealand-based merchants, saw a 0.1 per cent increase between September and October, seasonally adjusted, after a 1.1 per cent increase in September, according to figures released by Statistics New Zealand said.

Core retail spending, excluding vehicle-related industries, was flat.

Statistics NZ’s data shows electronic card spending rose in four of the six retail industries in October, with fuel seeing a 1.4 per cent increase to $9.1 million; durables, 0.4 per cent to $4.7 million ; hospitality, up $2.3 million (0.2 percent) and consumables, up $1.5 million (0.1 percent).

Vehicles, excluding fuel, was down 2 per cent to $3.5 million and apparel dipped 1.2 per cent to $3.7 million.

Cardholders across all industries made 150 million transactions in the month, up from 143 million in September. The average value per transaction rose to $49 in October, up from $48 in September.

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