Latest spending figures: Spike in Queen's birthday spend still below 2019 level

Spending was up 2.4 per cent in the last week of May. Photo / Stephen Parker

Spending throughout New Zealand continued to rise in the last week of May, particularly for hospitality businesses, according to the latest spending figures.

Paymark, which processes approximately 75 per cent of the country's electronic transactions, said the latest electronic payment figures showed underlying spending patterns at core retailers increased by 2.4 per cent last week.

Spending more broadly, however, was down 1 per cent on the same week last year.

The long weekend just gone proved to be a huge success for regional hospitality businesses, the data shows.

Over the Queen's Birthday weekend, hospitality operators recorded a sharp increase in spending on the Saturday and Sunday. Interestingly, this was most noticeable outside the country's major centres, Paymark said.

Overall spending at hospitality merchants was 12 per cent up on the same levels last year on the Monday through to Thursday - this was bolstered by a 45 per cent rise in spending at hospitality venues outside of the major centres.

Paymark said growth in hospitality spend in the regions is often seen over the holiday weekend, however, the jump far exceeded the typical increase of 13 per cent recorded last year.

Spending in the last week of May was a different picture for accommodation operators, travel agents, doctors, education providers, cinemas and cafes and bars.

Overall, spending increased over the month of May.