NZ credit, debt card retail spending slips in May, first decline in 13 months

Thu, 09 Jun 2016

By Paul McBeth June 10 (BusinessDesk) - New Zealanders cut their retail spending on credit and debit cards for the first time in 13 months in May, as people reduced expenditure on hospitality, petrol and vehicles. Retail spending fell 0.3 percent, seasonally adjusted, in May, the first decline since April 2015, Statistics New Zealand said. Vehicle spending was down 1.6 percent and fuel 1.5 percent, while spending in the hospitality industry declined 0.7 percent, the only core sector to register a drop. Actual sales were 3.3 percent highe...

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