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New Zealand Card Spending Rises Nearly 2% in May, ANZ Says

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Overall card spending in New Zealand rose 1.8% in May in seasonally adjusted terms, up 4.8% compared with the same period last year, with notable bounce-back at discretionary-type stores, ANZ said in a report on Thursday.

Monthly and annual growth improved across nearly all categories in May, with each category experiencing higher monthly spending growth compared to April, although annual growth showed mixed results.

Hospitality recorded a 3.5% month-on-month increase and 5.9% year on year, while apparel reached a 2.9% month-on-month rise, 3.4% year on year.

Housing durables rose 2.7% month on month and 9.5% year on year.

Motor vehicles and fuel was the only headline category that recorded a 1% month-on-month decline in May due to a decrease in fuel prices.

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