Christmas spending on the rise despite quake

Kiwis are hitting the shops in the leadup to Christmas with spending up on the same time last year, dented slightly by the recent earthquakes.

The latest data from electronic payments company Paymark shows total spending for the last week of November was up just 1.1 per cent, or $3.1 million, on the previous year.

Spending in the Marlborough/Kaikoura region and Wellington were down significantly however, affecting the total spend for the country.

“The earthquake of Monday 14 November caused a drop in spending on the day in most New Zealand regions,” Paymark said. “Underlying spending through the Paymark network was 3 per cent or $4.2m below the level of the previous Monday.

“Otherwise the interest in retail markets was the start of the busy preChristmas period,” it said.

Spending for the week in Marlborough/Kaikoura was down 14 per cent, while Wellington was down 12.1 per cent. The total November spend was up 6.9 per cent, or $5.03 billion. Hawke’s Bay led the annual growth with a rise of 11.8 per cent.

Marlborough recorded the lowest annual growth for the month, up just 1.3 per cent on the previous year.

Paymark said spending resumed a normal pattern by the Wednesday after the quake, although sectors such as accommodation in the region took longer to bounce back.

Overall the accommodation sector showed significant growth for the month, with spending up 17.4 per cent, suggesting another strong tourism season. Electrical and electronics spending was up 11 per cent.

“Over the last full week of November, the underlying annual spending growth was solid if unspectacular at 5.1 per cent,” Paymark said.

“Accommodation and liquor retail merchants recorded the fastest annual growth during the week.”

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