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New Zealand Electronic Card Spending Falls in April

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New Zealand's electronic card spending fell 1.6% month over month to NZ$9.65 billion in April on a seasonally-adjusted basis, compared with the 1.1% increase recorded in the previous month, according to data from Stats NZ on Tuesday.

Retail spending fell 1.3% to NZ$6.98 billion, following a 0.7% increase in March.

Core retail spending, which comprises consumables, durables, hospitality, and apparel, fell 1.3% to NZ$6.25 billion, following a 0.3% decrease in the previous month.

Services spending via electronic cards fell 3% to NZ$386 million, compared with a steady level in the prior month. Excluding services, spending in non-retail industries fell 4% to NZ$2.27 billion, following a 2.2% increase in the previous month.

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