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Financial News: New Zealand Electronic Card Spending Spikes 16.3% In

New Zealand Electronic Card Spending Spikes 16.3% In June

07/09/2020 - 19:55:00 (RTTNews)

(RTTNews) - The total value of electronic retail credit card spending in New Zealand was up 16.3 percent on month in June, Statistics New Zealand said on Friday - coming in at NZ$5.7 billion.

That follows the 78.9 percent surge in May.

On a yearly basis, retail card spending climbed 8.0 percent or NZ$421 million after sinking 6.0 percent in the previous month.

Spending in the core retail industries rose 10 percent or NZ$460 million.

By industry, the movements were: durables, up $310 million (24 percent); consumables, up $205 million (11 percent); motor vehicles (excluding fuel), up $45 million (26 percent); apparel, up $18 million (5.7 percent); hospitality, down $74 million (7.3 percent); and fuel, down $84 million (15 percent).

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