10 Nov 2009

Retail spending on electronic cards falls

1:51 pm on 10 November 2009

Retail spending on electronic cards fell slightly in October, figures from Statistics New Zealand show.

Electronic card transactions in core retail industries, which excludes cars and fuel, fell 0.4% in the month.

This was largely due to a 0.7% drop in spending on consumables.

Total electronic card transactions rose a seasonally-adjusted 0.2%, compared with September.

ASB chief economist Nick Tuffley says this rise was driven by higher fuel and food prices.