FX.co ★ New Zealand Retail Card Spending Adds 0.7% In March

The total value of retail electronic card spending in New Zealand was up a seasonally adjusted 0.7 percent on month in March, Statistics New Zealand said on Wednesday.

That missed expectations for an increase of 1.5 percent following the downwardly revised 0.1 percent decline in February (originally flat).

Individually, movements were: motor vehicles, up 5.5 percent; fuel, up 1.3 percent; apparel, up 1.5 percent; durables, up 0.2 percent; and consumables, down 1.2 percent.

On a yearly basis, card sales jumped 15.5 percent - exceeding forecasts for a gain of 9.5 percent and up from 11.7 percent in the previous month.