Bay spending jumps to $300m

Electronic transaction company Paymark is reporting spending across the Bay of Plenty jumped to $300 million in December 2010.


A major benefactor of the increase in spending this December in the Bay of Plenty was restaurants and cafes as people looked to dine out.

This is a 4.4 per cent increase on the $288 million spent during December 2009.

The Bay of Plenty experienced the fourth biggest increase of New Zealand's 17 monitored provinces.

Only Gisborne, with a six per cent increase, Waikato with a 5.2 per cent rise and Auckland/Northland with a 4.8 per cent increase were above the Bay of Plenty.

Bay of Plenty's December rise was above the national 3.9 per cent increase in spending.

Paymark head of sales and marketing Paul Whiston says that despite a surge in spending at the very beginning of December 2010, the increase in spending is reflective of modest, but improving growth across the general retail sector in recent months.

'During December, people have been increasing their spend on takeaways, up 24 per cent, general food and liquor up seven per cent and at restaurants and cafes up seven per cent – we dined well this holiday season,” says Paul.

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