Electronic card spending mixed

Photo / Martin Sykes

Mixed results across industry groups gave rise to a 0.4 per cent increase in the total value of electronic card transactions in February, Statistics New Zealand said today.

The value of transactions, adjusted for seasonal effects, rose in five industry groups, but fell in three.

SNZ said it was unable to offer a regional breakdown of the figures, so could not say what impact the Christchurch earthquake had on the figures.

All three industries to fall in February were in core retail which excludes the motor vehicle-related industries.

The value of transactions in core retail fell 0.6 per cent, following a 2.3 per cent rise in January.

The latest fall was caused by significant drops in durables and apparel (down $23 million and $13 million, respectively).

Durables includes furniture, hardware, and appliance retailing; apparel includes clothing, soft-goods, and footwear retailing.

With increases in the two vehicle-related industries (particularly fuel), the value of transactions across all retail industries was comparatively flat, down just 0.2 per cent in February.

The latest result follows a 2.4 per cent rise in January.

The value of transactions in the fuel industry has risen since July last year (up 23 per cent since then).

The remaining two industries, which fall outside retail, also increased, giving the 0.4 per cent overall rise in the total value of transactions.

This follows a 2.1 per cent rise in January and a 1.1 per cent fall in
December.

Trends for the value of transactions in the total and retail series have continued to increase since the start of 2009.

The trend for core retail has generally been increasing since the series began in October 2002, but has eased in recent months.

- NZ HERALD ONLINE