Card Spending Continues to Creep Up

Card spending by Kiwi consumers crept up by 1.4 per cent month-on-month in May according to data from Stats NZ, or by $123 million. 

Non-retail sales – in categories including medical and health care, travel and tours, postage and courier delivery – increased by $100 million (5.5 percent) in May.  A significant contributor was fuel, up by $51 million (8.9 percent) on month. 

“The past few weeks in May saw fuel prices rising, which is reflected in electronic card spending for May,” said Stats NZ business performance manager Ricky Ho.

Total spending via electronic cards, was $8.4 billion, up 3.1 percent compared with May last year, however the number of transactions declined by 7.4 percent.

Last month, Stats NZ reported that seasonally adjusted debit and credit card spending rose 7 percent during April to $551 million. Compared to the previous month, spending rose 1.7 percent.