'Downturn arrested': Stats NZ reports flat card spending in September

Consumables, the largest category in terms of spending, grew a modest 0.2%. (Image: File)

Mon, 14 Oct 2024

Stats NZ’s September card spending data release shows the spending downturn has been “arrested”, according to Westpac Economist Satish Ranchhod.The total value of electronic card spending, including in non-retail services and other non-retail categories, rose a seasonally adjusted 0.3% to $9.1 billion in September from August, according to Stats NZ. Retail spending rose a seasonally adjusted 0.2% to $6.4b but is still 3.7% below where it was a year ago.The number was pulled down by a 3.1% decrease in the amount spent on f...

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