Value of electronic card transactions up in November

Value of electronic card transactions up in November

When adjusted for seasonal effects, the value of total electronic card transactions increased 1.1 percent in November 2010, Statistics New Zealand said today. The value of transactions rose in all industries.

In the retail industries, the value of transactions was up 1.4 percent. This increase was led by the durables and fuel retailing industries. Durables (which includes furniture, hardware, and appliance retailing) rose 3.1 percent in November after a 6.0 percent fall in October, and fuel retailing rose 3.7 percent. The remaining retail industries all had small rises in November 2010.

The value of transactions in core retail (which excludes the motor vehicle-related industries) was up 1.0 percent in November 2010. The core retail trend has been rising at a monthly average of 0.6 percent since March 2010, following a year of lesser growth. The retail and total trends have both strengthened since July 2010.

Electronic card transaction figures, which cover debit, credit, and charge card transactions with New Zealand-based merchants, include GST. The rate of GST increased from 12.5 percent to 15 percent on 1 October 2010.

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Geoff Bascand 9 December 2010 Government Statistician

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