Spending increases as Covid restrictions ease

(Source: Supplied)

The easing of Covid restrictions helped increase card spending during the busy Christmas period in December last year.

According to Stats NZ, total debit card and credit card spending in December increased by $157 million (1.9 per cent) compared to November.

For the December quarter, seasonally adjusted retail spending increased to $1.2 billion with total spending estimated at $1.4 billion the previous quarter. 

Except for consumables, spending in all categories increased with the September quarter though heavily impacted by Covid restrictions.

Business performance manager Ricky Ho said, “as Covid-19 restrictions eased in December across most of the country, New Zealanders had access to a wider range of products and services, such as hairdressers and personal care services, that they could spend their money on”.

The fuel industry had the highest increase compared to the other sectors, rising $23 million last month.

“The increase in spending on fuel is not surprising, as the easing of restrictions and opening of the Auckland border allowed more people to go on holiday over the Christmas break,” said Ho.

Transactions across all industries for December was recorded at $168 million with the average value $58 per transaction.

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