Overall credit card spending in New Zealand slipped a seasonally adjusted 1.1 percent on month in April, Statistics New Zealand said on Monday – following the downwardly revised 1.2 percent increase in March (originally 1.3 percent).
Retail credit card spending dipped 0.7 percent on month in April to NZ$4.5 billion, unchanged from the previous month after it was revised up from -0.8 percent).
Retail card spending also was up NZ$167 million or 3.9 percent on year.
“After removing seasonal effects, spending fell in four of the six retail industries,” business indicators manager Neil Kelly said. “The largest fall came from the durables industry.”
Transactions in the core retail industries were down 0.8 percent on month after gaining 0.6 percent a month earlier.
The total value of electronic card spending – including the two non-retail industries (services and other non-retail) – was down 1.1 percent. This fall follows a 1.2 percent rise in March.
The material has been provided by InstaForex Company – www.instaforex.com