Economic Buzz: New Zealand Electronic Retail Card Spending Rise 0.1% In May

11 Jul 2022 , 12:21 PM

The value of electronic retail card spending in New Zealand rose a seasonally adjusted 0.1 percent on month in June, Statistics New Zealand reported – down from the 1.8 percent increase in May. Spending in the core retail industries fell 0.3 percent on quarter. On a yearly basis, retail card spending was up 1.9 percent, accelerating from 0.7 percent in the previous month. Cardholders made 148 million transactions across all industries in June 2022, with an average value of NZ$56 per transaction. The total amount spent using electronic cards was NZ$8.2 billion. For the second quarter of 2022, spending in the retail industries rose NZ$648 million (3.8 percent), while spending in the core retail industries rose NZ$739 million (5.0 percent).Powered by Commodity Insights