New Zealand retail card spending falls-Xinhua

New Zealand retail card spending falls

Source: Xinhua| 2023-01-18 15:54:45|Editor: huaxia

WELLINGTON, Jan. 18 (Xinhua) -- New Zealand's retail card spending fell in December 2022, the first drop in nine months, the statistics department Stats NZ said on Wednesday.

The retail card spending fell 166 million NZ dollars (107 million U.S. dollars), or 2.5 percent, in December 2022 compared with the previous month, Stats NZ said.

"The fall in retail card spending is large for a December month, and this month's drop is the first in nine months," said Stats NZ business performance manager Ricky Ho.

Spending fell across five of the six retail industries, with the largest fall being from sales of durables, which was down 5.7 percent. Durables includes items such as furniture, hardware, and appliances, Ho said.

Spending on fuel and apparel, such as clothes and shoes, was down 4.3 percent and 4.7 percent, respectively, he said.

The only spending category that saw an increase was groceries and liquor, or consumables, which went up 1.5 percent, he added.

In the December 2022 quarter, spending on hospitality had the largest increase, up 37 percent, compared with the December 2021 quarter.

"As COVID restrictions eased over the last year, people were able to get out and about to cafes and bars, and to resume traveling," Ho said.

Electronic card transaction data covers the use of credit or debit cards in shops or online and includes both the retail and services industries, according to Stats NZ.