Electronic card spending up in June

Photo Martin Sykes

The value of electronic card spending increased in June 2010, Statistics New Zealand said today.

The overall increase was due to the value of transactions rising in all industries except fuel retailing. The numbers were adjusted for seasonal effects.

Transactions in core retail (which excludes the motor vehicle-related industries) were up 0.6 per cent in June 2010, following a 1.1 per cent increase in May. Led by consumables (which includes food, liquor, and chemist retailing), all core retail industry groups recorded rises in June.

In the retail industries, transactions were up 0.4 per cent. This was less than for core retail due to a 3.1 per cent fall in the fuel retailing industry.

Annually, credit card use, as a proportion of the total transaction value, has been falling since September 2008, said Statistics NZ, witha corresponding rise in debit card use.

Credit cards accounted for 44 per cent of transactions in the year to June 2010, the lowest proportion since the series began.

- HERALD ONLINE