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Financial News: New Zealand June Electronic Retail Card Spending Gains

New Zealand June Electronic Retail Card Spending Gains 0.9%

07/11/2021 - 19:40:00 (RTTNews)

(RTTNews) - The value of electronics retail card spending in New Zealand advanced a seasonally adjusted 0.9 percent on month in June, Statistics New Zealand said on Monday - slowing from 1.7 percent in May.

On a yearly basis, retail card spending climbed 4.0 percent, also slowing from 18.1 percent in the previous month.

Spending in the core retail industries was up 0.6 percent on month, while overall spending gained 1.6 percent.

By industry, the movements were: consumables, up NZ$41 million (1.8 percent); fuel, up NZ$10 million (1.8 percent); durables, up NZ$7.5 million (0.4 percent); motor vehicles (excluding fuel), up NZ$0.3 million (0.2 percent); and apparel, down NZ$18 million (5.1 percent).

The non-retail (excluding services) category increased by NZ$31 million (1.8 percent). This category includes medical and other health care, travel and tour arrangement, postal and courier delivery, and other non-retail industries.

The services category was up NZ$7.5 million (2.3 percent). This category includes repair and maintenance and personal care, funeral, and other personal services.

The total value of electronic card spending, including the two non-retail categories (services and other non-retail) increased by NZ$134 million (1.6 percent) compared with May 2021.

Due to the effect of COVID-19 on tourism, we are unable to release seasonally adjusted figures for the hospitality industry. As such, we are focusing on the actual hospitality values for the June 2021 publication. We will continue to monitor this approach as more data becomes available.

The hospitality industry rose NZ$161 million (17 percent) between June 2020 and June 2021.

For the second quarter of 2021, retail card spending gained 4.5 percent on quarter and core retail spending advanced 5.5 percent.

By industry, the movements were: durables, up NZ$190 million (3.9 percent); consumables, up NZ$178 million (2.7 percent); apparel, up NZ$91 million (9.6 percent); fuel, up NZ$61 million (3.9 percent); and motor vehicles (excluding fuel), up NZ$29 million (4.8 percent).

The non-retail (excluding services) category was up NZ$429 million (9 percent) and the services category was up NZ$56 million (6 percent).

The total value of electronic card spending, including the two non-retail categories (services and other non-retail) rose by NZ$989 million (4.5 percent) compared with the March 2021 quarter.

Year on year, hospitality was up NZ$1.8 billion, from NZ$1.6 billion in the June 2020 quarter to 3.4 billion in the June 2021 quarter.

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