NZ retail spending on debit, credit cards picks up in November

Thu, 10 Dec 2015

By Tina Morrison Dec. 10 (BusinessDesk) - New Zealand retail spending on electronic cards picked up in November, driven higher by spending on hospitality and clothing. Spending on core retail, which strips out fuel and vehicle purchases, increased a seasonally adjusted 0.4 percent in November, from a 0.1 percent gain in October, Statistics New Zealand said. On an annual basis, core retail spending rose 4.9 percent, the agency said. Consumer spending is being underpinned by a combination of record low interest rates and an expanded popu...

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