Electronic card transactions in New Zealand tumbled 19.8 over the previous month as the country went into lockdown in the second half of the month. This latest drop in monthly seasonally adjusted card spending was less than half the drop seen in April 2020 (down 47.3 percent) when the country was in lockdown for almost the entire month. Consumables (includes groceries, liquor, and specialised food) was the only spending category that saw an increase in card spending over the month; $216 million or 9.3 percent. Supermarkets and grocery stores remained open as an essential service during lockdown, but many businesses that sold durables or apparel were not considered essential. The durables spending category, which includes many non-essential items such as furniture, hardware, and appliances, dropped $605 million or 35.5 percent in August. Year-on-year, electronic retail card spending fell 11.4 percent, after a 4.7 percent rise in July. source: Statistics New Zealand
Credit Card Spending in New Zealand averaged 4077.47 NZD Million from 2002 until 2021, reaching an all time high of 6358 NZD Million in July of 2021 and a record low of 2150 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 2021.
Credit Card Spending in New Zealand is expected to be 4810.00 NZD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the New Zealand Credit Card Spending is projected to trend around 6568.00 NZD Million in 2022 and 6775.00 NZD Million in 2023, according to our econometric models.