Retail card spending down 0.2 percent in July

Retail card spending fell $11 million (0.2 percent) between June 2022 and July 2022, when adjusted for seasonal effects, Stats NZ said today.

MonthActualSeasonally adjusted
Jul-2059689570006130261000
Aug-2054389970005706272000
Sep-2057344010006092844000
Oct-2062507220006083592000
Nov-2062560290006055694000
Dec-2074595260006017788000
Jan-2160056760006005934000
Feb-2153914440005847282000
Mar-2159373460005886965000
Apr-2159897110006162505000
May-2161297890006266113000
Jun-2159309140006314353000
Jul-2162521890006350818000
Aug-2148216250005110362000
Sep-2148780990005141345000
Oct-2157744300005673513000
Nov-2164369120006216456000
Dec-2177709840006225875000
Jan-2263464360006393263000
Feb-2254492560005917585000
Mar-2259102540005843141000
Apr-2261139270006265901000
May-2261715020006374335000
Jun-2260428420006375626000
Jul-2262210060006364317000

The largest increase was consumables (groceries and liquor), up $52 million (2.2 percent), which was partially offset by the decrease in fuel, down $39 million (6.1 percent).

“Lower fuel spending contributed to the fall in retail card spending,” business performance manager Ricky Ho said.

“Fuel prices started to decrease during the second half of July.”

Industry (ANZSIC06)$
Consumables52037000
Durables-9370000
Apparel1282000
Motor vehicles excl. fuel-838000
Fuel-38912000
Non-retail excl. services-9406000
Services6308000

In actual terms, total retail spending using electronic cards reached $6.2 billion, down $31 million (0.5 percent) from July 2021.

The electronic card transactions series covers all debit, credit, and charge card transactions with New Zealand-based merchants. It can be used to indicate changes in consumer spending and economic activity.

Values are only available at the national level and are not adjusted to price changes.

/Stats NZ Public Release. This material from the originating organization/author(s) may be of a point-in-time nature, edited for clarity, style and length. The views and opinions expressed are those of the author(s).View in full here.