New Zealand Electronic Card Transactions for August
Retail +1.0% m/m
- expected 0.5%, prior was 0.7%
- For the y/y, up 6.3%
Total card spending +1.1% m/m
- prior was 0.5%
Sales on electronic cards cover about 68% of core retail sales in New Zealand, hence this is a decent indicator. Business confidence in NZ has fallen hard, but indicators such as this one are beginning to flex their muscle again.
