10.08.202023:05:00UTC+00New Zealand Electronic Spending Gains 1.2% In July

The total value of credit card spending in New Zealand was up a seasonally adjusted 1.2 percent on month in June (1.1 percent unadjusted), Statistics New Zealand said on Tuesday.

That was well shy of expectations for a gain of 13.8 percent following the 16.3 percent jump in June.

On a yearly basis, credit card spending climbed 11.4 percent after rising 8.0 percent in the previous month.

Spending in the retail industries was up 11 percent on year or NZ$610 million, while spending in the core retail industries (which excludes the automotive industry) climbed an annual 13 percent or NZ$616 million.