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March 14, 2016

New Zealand retail card spending up 9% in February 2016: Report

Retail spending in New Zealand using electronic cards reached NZ$4.6bn ($3bn) in February 2016, up 9.3% compared to the prior year, according to data from Statistics New Zealand.

By Verdict Staff

Retail spending in New Zealand using electronic cards reached NZ$4.6bn ($3bn) in February 2016, up 9.3% compared to the prior year, according to data from Statistics New Zealand.

Spending increased in four of the six retail industries. The largest increases were recorded in the consumables and hospitality industries, where spending rose 1.8% and 1.6% respectively.

Card spending in fuel was down by 2.1%, the report said.

Core retail spending, excluding the vehicle-related industries, was up by 1.2% in February 2016. All the four core retail industries reported increases during this period.

The total value of electronic card spending, which includes the two non-retail industries, dropped 0.1%, following a 0.6% increase in January 2016.

Statistics New Zealand business indicators senior manager Neil Kelly said: "As 2016 is a leap year, February had one more day than last year, so this needs to be taken into account when making comparisons."

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