Tourism spurs big July increase in plastic card spending

Mon, 08 Aug 2016

By Paul McBeth Aug. 9 (BusinessDesk) - Spending on electronic cards rose strongly last month, led by the biggest monthly gain in hospitality expenditure since November as the sector continues to enjoy the benefits of an expanding population and booming tourism numbers. Retail spending rose a seasonally adjusted 0.3 percent in July, slowing from the 1.2 percent increase in June, Statistics New Zealand said. However, spending on hospitality was up 2.9 percent in July, the largest area of increase. Spending on fuel dropped 3.6 percent as ch...

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