New Zealand electronic retail card spending declined 7.9 percent over a month earlier in August of 2020 to NZD 5.7 billion, following a 1.2 percent increase in the previous month. It was the first decline in four months, as a new wave of coronavirus cases triggered fresh social isolation measures. Spending in core retail industries dropped 7.3 percent (vs 0.6 percent in July), mainly due to apparel (-28 percent), hospitality (-19.7 percent), and durables (-9.9 percent). Also, fuel transactions dropped 9.7 percent, after increasing 7.6 percent in the prior month. In contrast, purchases of consumables went up 3.7 percent. Year-on-year, electronic retail card spending declined 0.8 percent, following an 11.4 percent rise in July.
Credit Card Spending in New Zealand averaged 3970.19 NZD Million from 2002 until 2020, reaching an all time high of 6247 NZD Million in July of 2020 and a record low of 2149 NZD Million in November of 2002. This page provides - New Zealand Credit Card Spending- actual values, historical data, forecast, chart, statistics, economic calendar and news. New Zealand Credit Card Spending - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020. source: Statistics New Zealand
Credit Card Spending in New Zealand is expected to be 5610.00 NZD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Credit Card Spending in New Zealand to stand at 5930.00 in 12 months time. In the long-term, the New Zealand Credit Card Spending is projected to trend around 6070.00 NZD Million in 2021 and 6190.00 NZD Million in 2022, according to our econometric models.