Card spending bounces back

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