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Financial News: New Zealand Electronic Retail Card Spending Slides 7.9%

New Zealand Electronic Retail Card Spending Slides 7.9% In August

09/09/2020 - 19:40:00 (RTTNews)

(RTTNews) - The value of retail electronic card transactions in New Zealand was down a seasonally adjusted 7.9 percent on month in August, Statistics New Zealand said on Thursday- following the 1.2 percent increase in July.

On a yearly basis, retail card transactions dipped 0.8 percent after jumping 11.4 percent in the previous month.

Spending in the core retail industries, which excludes the automotive industry, advanced an annual 1.4 percent.

The total value of electronic card spending, including the two non-retail categories (services and other non-retail) was down NZ$411 million (5.3 percent) compared with August 2019.

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