Total retail card spending ticks up 1% on month in June

Softer hospitality spending continues. (Image: Getty)

Thu, 13 Jul 2023

Stats New Zealand says seasonal-adjusted total retail card spending rose by 1.0% or $68 million on the month in June.Spending in the core retail industries – which strips out fuel and vehicles - was unchanged on the month. The rebound was expected, said Westpac Bank senior economist Darren Gibbs.“The composition of the rebound was somewhat disappointing, however. Increased spending on fuel was the key contributor to the lift, likely reflecting slightly higher average fuel prices during the month and some stockpiling ahea...

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