Otago Daily Times

Card spend­ing bounces back

- Business · Retail · Industries · Greater Auckland · New Zealand

AUCK­LAND: Spend­ing on elec­tronic cards re­bounded and was close to pre­Covid lev­els in Septem­ber.

Last month spend­ing vol­umes re­turned fol­low­ing a loos­en­ing in Covid­19 re­stric­tions, and were sit­ting just 2% be­low Fe­bru­ary lev­els.

Spend­ing on durables was strong and over­all re­tail card spend­ing re­bounded by a record 24.6% in Q3, but econ­o­mists warn re­tail head­winds are ‘‘likely to in­ten­sify’’ into sum­mer.

Re­tail elec­tronic card spend­ing re­bounded 5.4% month on month in Septem­ber, or 7.3% year­on­year. — The New Zealand Herald

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