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Financial News: New Zealand Electronic Retail Spending Surges 7.0% In

New Zealand Electronic Retail Spending Surges 7.0% In April

05/09/2022 - 19:10:00 (RTTNews)

(RTTNews) - The value of electronic retail card spending in New Zealand was up a seasonally adjusted 7.0 percent on month in April, Statistics New Zealand said on Tuesday - following the 1.3 percent decline in March.

By spending category, the movements were: consumables, up NZ$118 million (5.2 percent); apparel, up NZ$46 million (16.8 percent); fuel, up NZ$18 million (3.3 percent); durables, up NZ$15 million (0.9 percent); and motor vehicles (excluding fuel), up NZ$1 million (0.5 percent).

On a yearly basis, electronic retail card spending was up 2.1 percent after slipping 0.5 percent in the previous month.

Cardholders made 146 million transactions across all industries in April 2022, with an average value of NZ$56 per transaction. The total amount spent using electronic cards was NZ$8.1 billion.

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