Friday 10th August 2012 |
Text too small? |
New Zealanders' credit and debit card spending fell in July, snapping three months of gains, as kiwis cut down on how much they spent at bars and restaurants in what's traditionally the year's coldest month.
The seasonally adjusted value of total transactions declined 0.8 percent to $5.5 billion, according to Statistics New Zealand. Spending on hospitality shrank 3.4 percent to $617 million, ending four months of rising bills at bars and restaurants.
Spending on apparel fell 1.5 percent to $277 million, while durable goods dropped 0.9 percent to $1.01 billion and consumables declined 0.4 percent to $1.51 billion. Core retail spending, which strips out vehicle related expenditure, fell 1.5 percent to $3.42 billion.
The figures come a day after an ANZ Roy Morgan survey showed consumers grew more optimistic this month, with the number of people thinking it's a good time to buy a big ticket item still outweighing those who don't.
Card spending on fuel rose 0.4 percent to $619 million, while other vehicle related expending increased 0.2 percent to $113 million.
Credit and debit card spending on services advanced 0.5 percent to $174 million, and expenditure on non-retail industries shrank 1.6 percent to $1.17 billion.
Unadjusted spending on electronic cards advanced 1.8 percent to $5.33 billion in July.
BusinessDesk.co.nz
No comments yet
NZAS Sign Long Term Contracts
Amended - IFT230 Maturity and Exchange for IFT350
Synlait forecast milk price update
Chorus submits 2023 fibre regulatory report
Infratil Infrastructure Bond Exchange Offer opens
May 31st Morning Report
NZAS and Mercury sign long-term agreement, creating opportunity for future investment in renewables
Meridian and NZAS sign long term contracts
ArborGen Holdings Results for Year Ended 31 March 2024
BAI - Full unaudited results to 31 March 2024