New Zealand October Credit Card Spending Up 0.2%

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The value of electronic card transactions in New Zealand increased in October by a seasonally adjusted 0.2 percent from September.

Statistics NZ also reported Tuesday that the value of core retail electronic card transactions, which exclude motor vehicle-related transactions, was down a seasonally adjusted 0.4 percent.

The value of transactions in the overall retail industries was down 0.2 percent.

Statistics NZ said the main contribution to the declines was from the consumables industry, which was down 0.7 percent.

In non-seasonally adjusted terms, October 2009 credit card transactions rose in value by 2.8 percent compared to October 2008.

(Market News Provided by RTTNews)