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August 11, 2014

Retail credit card spending in New Zealand flat in July

Retail spending using electronic cards remained flat in July 2014, reveals a report from Statistics New Zealand.

By Verdict Staff

Retail spending using electronic cards remained flat in July 2014, reveals a report from Statistics New Zealand.

Statistics New Zealand business indicators manager Neil Kelly said: "Spending rose in three retail industries and fell in three during July. Durables and consumables had the largest rises, while both vehicle-related industries fell."

The value of core retail spending on electronic cards, which excludes fuel and auto-related purchases, rose a seasonally adjusted 0.5%, from a restated 0.3% decline in June and 1% increase in May.

Including auto-related purchases, retail spending was unchanged after a static figure in June, and 1.2% rise in May. Total spending, which includes non-retail industries and services, decreased 0.1%, following a 0.5% rise in June.

The report further reveals that the total value of electronic card spending, including the two non-retail industries (services and other non-retail) decreased 0.1%.

In unadjusted terms, 118 million transactions were made across all industries in July, with an average value of $51. The total amount spent across all transactions was $6bn, according to the July report.

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