Card spending sees strong growth in May

Seasonally adjusted card spending rose by $189 million (2.3 percent) between April 2021 and May 2021, Stats NZ said today.

Spending rose across all industries for the first time since New Zealand moved to level 1 in June 2020.

“With the trans-Tasman bubble opening and New Zealand remaining in level 1, Kiwi consumer confidence has remained high,” business statistics manager Geraldine Duoba said.

“This confidence appears to be resulting in robust growth in Kiwi spending.”

While spending was up across the board in May, the non-retail industries saw the largest increase. Non-retail (excluding services) rose $67 million (4.0 percent). These industries include postal and courier delivery businesses, travel agents, and medical care businesses.

Industry (ANZSIC06)$
Consumables40260000
Durables39090000
Apparel17810000
Motor Vehicles excl. fuel12230000
Fuel12090000
Non-retail excl. services67220000
Services16120000

This month also marks the first time since July 2020 that spending has increased for three months in a row.

“The fact that New Zealand has avoided moving up COVID alert levels since March 2021 appears to have positively impacted New Zealanders’ spending,” Ms Duoba said.

/Stats NZ Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here.