The electronic card transactions (ECT) series, a crucial indicator of consumer spending and economic activity, encompasses debit, credit, and charge card transactions at New Zealand-based merchants. This data provides a comprehensive view of the changes in consumer behaviour and economic trends.
According to Stats NZ, All data has been adjusted for seasonal variations unless otherwise stated. The values are national-level and are not corrected for price changes.
Changes in the value of electronic card transactions for May 2024 (compared to April 2024) were as follows:
Retail industry spending decreased by 1.1 percent ($69 million).
Core retail industry spending decreased by 0.8 percent ($48 million).
Regarding retail spending categories, the movements were as follows:
- Hospitality decreased by $25 million (2.0 percent).
- Fuel decreased by $16 million (2.8 percent).
- Durables decreased by $15 million (1.0 percent).
- Motor vehicles (excluding fuel) decreased by $9.5 million (4.8 percent).
- Apparel decreased by $3.9 million (1.2 percent).
- Consumables increased by $1.3 million (0.1 percent).
The non-retail (excluding services) category decreased by $16 million (0.7 percent) from April 2024. This category includes medical and other health care, travel and tour arrangements, postal and courier delivery, and other non-retail industries.
The services category was down $22 million (5.8 percent), including repair and maintenance, personal care, funeral, and other personal services.
The total value of electronic card spending, including the two non-retail categories (services and other non-retail), decreased from April 2024, down $81 million (0.9 percent).
In actual terms, there were 164 million transactions by cardholders across all industries in May 2024, with an average transaction value of $55. The total amount spent using electronic cards was $9.0 billion.
More information about these transactions here
