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New Zealand Electronic Card Spending Falls in June

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New Zealand's electronic card spending fell 1.2% month over month to NZ$9.71 billion in June on a seasonally-adjusted basis, compared with the 1.9% increase recorded in the previous month, according to data from Stats NZ on Wednesday.

Retail spending fell 1.4% to NZ$7 billion, following a 1.6% increase in May.

Core retail spending, which comprises consumables, durables, hospitality, and apparel, fell 1.5% to NZ$6.27 billion, following a 1.7% increase in the previous month.

Services spending via electronic cards rose 1.8% to NZ$395 million, compared with 0.2% increase in the previous month. Excluding services, spending in non-retail industries fell 1.4% to NZ$2.3 billion, following a 2.6% increase in the previous month.

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