The total value of credit card spending in New Zealand jumped a seasonally adjusted 0.7 percent on month in September, Statistics New Zealand said on Friday – roughly in line with forecasts and up from the 0.1 percent gain in August.
Retail credit card spending was up NZ$256 million or 0.9 percent on month to NZ$4.5 billion.
That topped forecasts for an increase of 0.4 percent following the upwardly revised 0.5 percent increase in the previous month (originally 0.4 percent).
“Spending rose in four of the six retail industries,” business indicators senior manager Neil Kelly said. “Durables and hospitality had the largest rises, while fuel fell for the third consecutive month.”
Transactions in the core retail industries (which exclude vehicle-related industries) advanced 1.2 percent following a 1.0 percent gain in August.
Trends for the total, retail, and core retail series have generally been rising since these series began in October 2002, the bureau said.
The material has been provided by InstaForex Company – www.instaforex.com