An economist says a slow-down in the growth of electronic card spending in July is by no means an indication of reducing consumer confidence.
Statistics New Zealand figures released on Friday showed total spending on credit, debit and charge cards rose a seasonally-adjusted 0.2% last month, down from a 1.2% increase in June.
BNZ economist Doug Steel said monthly numbers can vary due to many factors and the data is part of underlying 5% annual growth.
Mr Steel said the outlook for consumer spending remains positive and consumer confidence is still above average.
