Spending by New Zealanders on their credit and debit cards levelled off last month, the government statistics agency announced on Wednesday, in the latest sign that the country’s economic growth was slowing.
Retail spending with electronic cards was unchanged in June, following a rise of 1.2 percent in May, according to Statistics New Zealand. "Spending rose in three retail industries and fell in three during June," business indicators manager Neil Kelly said in a statement.
The three biggest movements saw spending on fuel up 1.6 percent, or NZD12 million (USD10.54m), and spending on hospitality up 0.5 percent, or NZD3.7 million (USD3.25m), while spending on durables (including furniture, hardware and pharmaceuticals) fell by 0.7 percent, or NZD7.8 million (USD6.85m).
(Source: Shanghai Daily)