Retail card spending stabilises in July

(Source: Bigstock)

Falling fuel sales caused New Zealand retail card spending to decline by a marginal 0.2 per cent – or by $11 million – from June to July, according to Stats NZ.

Retail spending using electronic cards reached $6.2 billion in July, down by $31 million (or 0.5 per cent) from July last year.

Groceries and liquor recorded the largest increase of 2.2 per cent or $52 million, while apparel sales were up by $1 million, representing a marginal 0.4 per cent increase. Consumer durables registered a 0.6 per cent decline of $9 million. Fuel sales fell 6.1 per cent, or by $39 million.

Spending with cards in the non-retail category – including medical and health care, travel and courier deliveries – rose by $9 million (0.5 per cent).

Stats NZ business performance manager, Ricky Ho, said lower fuel spending contributed to the fall in retail card spending as fuel prices started to decrease during the second half of the month.

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