Retail card spending rose 0.1 per cent in June 2022, when adjusted for seasonal effects, says Stats NZ.
Compared with May 2022, spending fell across most retail industries.
The only increase came from the fuel industry, which was up $18 million (2.9 per cent).
'This increase is likely influenced by higher fuel prices at the pump,” says business performance manager Ricky Ho.
'Fuel spending accounted for the slight increase in retail card spending in June.”
Electronic card spending in the core retail industry (excluding vehicle-related industries) fell 0.3 per cent in June, after experiencing a slight increase (0.9 per cent) in the previous month.
Core retail includes consumables (eg groceries and liquor), durables (eg furniture, hardware, and appliances), and apparel (eg clothing and footwear).
In actual terms, total retail spending using electronic cards reached $6.0 billion, up $112 million (1.9 percent) from June 2021.
June quarter results show retail card spending increasing
Seasonally adjusted retail spending increased by $648 million (3.8 per cent) in the June 2022 quarter, following a small 1.6 per cent rise in the March 2022 quarter.
'Retail card spending increased across all retail industries in the June quarter.
'People were spending more on a range of items such as clothing, food and liquor, and fuel.”
Actual retail spending using electronic cards was $18 billion in the June quarter, up $278 million (1.5 percent) from the June 2021 quarter.
The electronic card transactions series covers all debit, credit, and charge card transactions with New Zealand-based merchants. It can be used to indicate changes in consumer spending and economic activity.
Values are only available at the national level and are not adjusted to price changes.
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