FINWIRES · TerminalLIVE
FINWIRES

New Zealand Card Spending Falls 0.3% in May, Says Westpac

By

New Zealand spending on a per-person basis on Westpac-issued debit and credit cards fell 0.3% in May, adjusted for seasonal swings, with spending effectively tracking sideways since the start of the year, according to a Tuesday Westpac report.

The bank said fuel spending declined as petrol prices eased, although prices remain well above pre-conflict levels, while grocery spending also eased modestly as buyers shifted toward essentials over discretionary items amid cost-of-living pressures.

May saw a bounce in travel-related spending, but it remains well below levels seen in early 2026, while spending in restaurants and on takeaways picked up again, aided by the easing in fuel prices, the report added.

Despite the pickup in hospitality spending, many operators reported tough trading conditions, and spending on other entertainment activities continued to ease, it added.

Related Articles

International

Update: Indonesia's Forex Reserves Fall to $144.9 Billion in May

(Updated to add context)Indonesia's foreign exchange reserves fell to $144.9 billion at the end of May from $146.2 billion at the end of April, according to data released by Bank Indonesia on Monday.The decline reflected government external debt repayments and Bank Indonesia's efforts to stabilize the rupiah amid heightened uncertainty in global financial markets and seasonal domestic demand for foreign currency. The impact was partly offset by proceeds from the government's global bond issuance, as well as by tax and service receipts.

$^JKSE
International

Indonesia's Forex Reserves Fall to $144.9 Billion in May

Indonesia's foreign exchange reserves fell to $144.9 billion at the end of May from $146.2 billion at the end of April, according to data released by Bank Indonesia on Monday.

$^JKSE
International

Indian Households Expect Inflation to Rise Further, RBI Survey Shows

Amid heightening geopolitical tensions and global economic turmoil, Indian households expect domestic inflation to rise further, according to a survey released by the Reserve Bank of India on Friday.The bi-monthly data of the Reserve Bank of India's Inflation Expectations Survey of Households for May showed that the current median inflation perception of households rose by 60 basis points to 7.8% from 7.2% in March.The survey was conducted from May 2 to May 11 in 19 major Indian cities.Expectations for inflation over the next three months jumped 80 basis points, while the one-year outlook climbed 50 basis points, reaching 9.3% for both horizons, the survey showed.Separate surveys conducted by the central bank also showed a decline in confidence among both urban and rural consumers.Urban consumer confidence, measured by the Current Situation Index (CSI), dropped to 90.7 in May from 95.7 in March. The Future Expectations Index (FEI), while remaining above the neutral 100 mark, declined to 118.7, the lowest level since September 2023.Meanwhile, the rural CSI slipped to 95.2 from 98.0 in March, while the rural FEI fell to 119.3 from 125.1.

$^BSE$^NSEI