NZ credit, debit card spending falls in March

New Zealanders spent less on their credit and debit cards last month. Photo / File
New Zealanders spent less on their credit and debit cards last month. Photo / File

New Zealanders spent less on their credit and debit cards last month, led by a decline in spending on non-retail and fuel.

The value of total transactions fell a seasonally adjusted 0.2 per cent to $5.42 billion in March, according to Statistics New Zealand. That follows a decrease of 0.3 per cent in February.

Spending on core retail industries, which strips out motor-vehicle expenditure, rose 0.5 per cent to $3.36 billion. This was boosted by rises in three of the four industry groups.

Spending in the hospitality industry showed the biggest gain, up $12 million, followed by consumables rising $8 million and apparel up $7 million.

The decrease was led by fuel down $16 million on a month earlier and non-retail which fell $22 million.

Unadjusted spending in core retail rose 5.8 per cent from March 2011.

- BusinessDesk

© Copyright 2014, APN New Zealand Limited

Assembled by: (static) on production apcf01 at 23 Oct 2014 13:41:57 Processing Time: 719ms