9 Oct 2014

Electronic spending edges down

1:25 pm on 9 October 2014

Retail spending using electronic cards has edged down according to the latest figures from Statistics New Zealand.

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Photo: PHOTO NZ

The figures show seasonally-adjusted spending using debit, credit and charge cards fell 0.1 percent to $4.67 billion in September compared with the previous month, when sales rose 0.6 percent.

Statistics New Zealand said people spent less on fuel, and food and drink, and more on durable goods like whiteware and furniture.

Excluding cars and vehicle parts, core retail spending fell 0.4 percent.

Compared to a year ago, the pace of spending accelerated to 5.4 percent.

An economist at Westpac, Felix Delbruck said it's too soon to tell whether last month's fall in transactions indicates a trend.

Overall, the total value of electronic card spending fell 0.2 percent, when non-retail services and other non-retail items are included.

In unadjusted terms, there were at total of 115-million transactions with cards in September, with an average value of $50.

The total amount spent across all transactions was $5.8 billion.

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