5 Jan 2009

Electronic spending down in November

4:14 pm on 5 January 2009

A drop in fuel sales is being blamed for a decline in electronic card spending in November last year.

Official figures show the total value of purchases made with electronic cards dropped by 2.8% from October's levels.

Statistics New Zealand says the drop was the largest monthly decline it has seen since it began tracking such transactions in October 2002.

Statistics New Zealand says the main contributor to the fall was a substantial decrease in the value of fuel sales, as fuel prices declined.

It says smaller falls in the hospitality and durables industries were offset by a rise in the consumables industry.

Core retail credit card purchases, which excludes the motor vehicle-related industries, decreased by 0.5% in November, following an increase of 0.9% in October.

There were 88 million electronic transactions in November, with a value of $4.8 billion.

Electronic transaction figures for December 2008 will be issued on 22 January.