12 Feb 2009

Retail spending remains flat

3:22 pm on 12 February 2009

Consumers kept a tight reign on their spending at the start of the year, despite expectations of interest rate cuts.

Statistics New Zealand figures show the value of electronic card transactions was unchanged in January, compared with December.

The flattening follows two months of decline.

Within the retail groups, only consumables showed a sales increase in the month.

Total card transactions dropped 0.6% in January.