Retail in Asia

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Bump in retail spending in NZ

New Zealand shoppers bumped up spending last month, but how much of that was due to tax changes is not clear.

From 1 October Goods and Services Tax rose from 12.5 percent to 15 percent while personal taxes fell.

Paymark, which processes 75 percent of electronic transactions in New Zealand, said on Monday that spending through the Paymark network grew 3.3 percent in October from a year earlier. That rate was nearly double that compared to the midyear months of May, June, July and August when it rose 1.8 percent.