The value of retail electronic card spending in New Zealand advanced a seasonally adjusted 0.9 percent on month in March, Statistics New Zealand said on Tuesday.

That followed the 2.5 percent drop in February.

Spending in the core retail industries rose 0.7 percent on month.

“Despite spending constraints for the first week of March due to Auckland’s return to alert level 3 lockdown, card sales rebounded from a lackluster February,” retail statistics manager Kathy Hicks said. “Recent monthly falls in the consumables sector reflect the softer growth in this industry following the much higher spending levels seen since the COVID-19 outbreak in March 2020.”

On a yearly basis, retail card spending jumped 5.1 percent after sinking 5.3 percent in the previous month.

The total value of electronic card spending, including the two non-retail categories (services and other non-retail) increased by NZ$152 million (2 percent) compared with February.

By industry, the movements were: durables, up NZ$29 million (1.8 percent); motor vehicles (excluding fuel), up NZ$7.9 million (4.1 percent); fuel, up NZ$5.8 million (1.1 percent); apparel, down NZ$7.5 million (2.4 percent); and consumables, down NZ$74 million (3.3 percent).

Cardholders made 159 million transactions across all industries in March 2021, with an average value of NZ$50 per transaction.

For the first quarter of 2021, spending in the retail industries fell NZ$330 million (1.9 percent) on quarter and spending in the core retail industries fell NZ$359 million (2.4 percent).

By industry, the movements were: durables, up NZ$70 million (1.5 percent); motor vehicles (excluding fuel), down NZ$16 million (2.7 percent); fuel, down NZ$32 million (2.0 percent); apparel, down NZ$63 million (6.2 percent); and consumables, down NZ$92 million (1.4 percent).

The non-retail (excluding services) category was down NZ$155 million (3.1 percent) and the services category was down NZ$19 million (2 percent).

The total value of electronic card spending, including the two non-retail categories (services and other non-retail) fell by NZ$387 million (1.7 percent) compared with the December 2020 quarter.

The material has been provided by InstaForex Company – www.instaforex.com

Leave your vote

🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.

As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.