finance
New Zealand Electronic Retail Card Spending Fell 1.4% in June
Monthly electronic retail card spending declined more than expected while the annual rate also came in below forecasts. The figures cover June and compare with prior month and year results.
Jul 14, 6:45 PM·1m read1 source
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Economists had forecast a 0.5 percent increase, following a 1.7 percent rise in May. The annual measure rose 1.3 percent year-over-year. That reading missed the 3.6 percent estimate and followed a 3.3 percent increase the previous year.
The month-over-month decline reversed the prior two months of gains. The annual pace also slowed from the May figure. Both measures are compiled from electronic transactions processed through retail terminals. No further details on specific spending categories were provided in the report.
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