Retail spending up 5% in June
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Retail spending using electronic cards experienced increased in the month of June, according to new data from Statistics New Zealand.
Spending grew 5% to $4.3 billion in June 2015, an increase of $206 million for the same period in 2014.
When adjusted for seasonal effects, retail spending rose 0.5% in June 2015 compared with May 2015, the data shows. This rise follows an increase of 1.3% in May.
“Spending rose in four of the six retail industries,” says Neil Kelly, business indicators manager
“Fuel spending had the largest rise, returning to the levels seen before the price falls of late last year. The rise in fuel was partially offset by falls in apparel and durables spending.”
Core retail spending (which excludes the vehicle-related industries) was flat in June 2015, following a 0.4% rise in May, Kelly says.
The total value of electronic card spending, including the two non-retail industries (services and other non-retail), rose 0.6%. This rise follows a 1.4% rise in May 2015.
Trends for the total, retail, and core retail series have generally been rising since these series began in October 2002, according to the Statistic NZ data.