Figures released by Paymark show Kiwis are continuing to part with their hard-earned cash, with Bay of Plenty consumers following the trend.

Spending through the Paymark network from January to February was up a seasonally adjusted 0.9 per cent.

Spending increased in the Bay of Plenty in February.

The increase marks the fifth consecutive monthly gain and is the largest five-month gain since June 2007.

The Bay of Plenty experienced an increase of 1.1 per cent.

During the same period last year, $236.2million was spent compared to $238.9million this year.

According the Paymark figures, the number of transactions in February rose by 1.4 per cent or from 4.62 million in February 2012 to 4.49 million last month.

Paymark Head of Sales and Marketing Paul Whiston says the momentum in spending is very encouraging.

'We're pleasantly surprised to see spending maintain its upward impetus this month, great news for a number of retailers across the country. In terms of annual growth, we've seen a 1.8 per cent increase in the total value of transactions from February 2012 to 2013.

'This is slightly lower than the annual growth rates we've been seeing in recent months, however it was to be expected with the extra 29th day in 2012 making quite a difference to spending totals.”
However, Paul notes the picture isn't rosy for everyone.

'We know there are still sectors and regions that are finding things tough, and experiencing limited growth, if any. Yet this is certainly an encouraging trend we hope will continue.”

New and used car retailers are reaping the benefits according to the latest figures, with sales up a whopping 15.4 per cent.

This was followed closely by specialist food retailing (15.3 per cent) and taxi services (13.6 per cent).

'Valentine's Day saw a slight lift in spending on flowers and gifts, however the overall effect was not enough to off-set the shorter 28-day month.”

Both sectors saw a slight decline year-on-year, down 1.1 and 0.3 per cent respectively.

The hardware and home decorating sector once again saw strong growth, up 10.9 per cent.