WELLINGTON, Feb 11 (Reuters) - New Zealand electronic card retail spending fell for the third month in a row in January, pointing to lingering weakness in consumer spending as the country's recession deepens.
Electronic card transactions, which include debit, credit and charge cards used at the point of sale, showed retail spending fell 0.6 percent on the previous month driven by lower petrol and durables sales, Statistics New Zealand (SNZ) said on Wednesday.
Electronic transactions for core retail groups, which excludes motor vehicle-related industries, fell a seasonally adjusted 0.2 percent.
Overall seasonally adjusted electronic card spending, which includes transactions in industries other than retail, was flat following a 0.6 percent dip in December, SNZ said.
The government agency said unadjusted retail volumes, which take account of price movements but not seasonal factors, were 5.3 percent higher than a year earlier.It was the biggest annual gain in four months.
New Zealand economy contracted in the first three quarters of 2008, with the shrinkage expected to continue as consumers spend less, businesses cut investments and weak global markets and prices hit exports.
Electronic card spending data covers around two-thirds of retail sales, but Statistics NZ has said it should not be used as an indicator of the whole retail sector, because it does not include cash and cheque transactions. Analysts see electronic transactions as an indicator of consumer spending.
Fourth-quarter retail sales data is due on Feb. 13, with expectations in a Reuters poll for a fall of 0.5 percent in sales volumes for the three months to Dec 31.
(Reporting by Gyles Beckford) Keywords: NEWZEALAND ECONOMY/ECARDS (gyles.beckford@reuters.com ; +64 4 471 4231; Reuters Messaging: gyles.beckford.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Electronic card transactions, which include debit, credit and charge cards used at the point of sale, showed retail spending fell 0.6 percent on the previous month driven by lower petrol and durables sales, Statistics New Zealand (SNZ) said on Wednesday.
Electronic transactions for core retail groups, which excludes motor vehicle-related industries, fell a seasonally adjusted 0.2 percent.
Overall seasonally adjusted electronic card spending, which includes transactions in industries other than retail, was flat following a 0.6 percent dip in December, SNZ said.
The government agency said unadjusted retail volumes, which take account of price movements but not seasonal factors, were 5.3 percent higher than a year earlier.It was the biggest annual gain in four months.
New Zealand economy contracted in the first three quarters of 2008, with the shrinkage expected to continue as consumers spend less, businesses cut investments and weak global markets and prices hit exports.
Electronic card spending data covers around two-thirds of retail sales, but Statistics NZ has said it should not be used as an indicator of the whole retail sector, because it does not include cash and cheque transactions. Analysts see electronic transactions as an indicator of consumer spending.
Fourth-quarter retail sales data is due on Feb. 13, with expectations in a Reuters poll for a fall of 0.5 percent in sales volumes for the three months to Dec 31.
(Reporting by Gyles Beckford) Keywords: NEWZEALAND ECONOMY/ECARDS (gyles.beckford@reuters.com ; +64 4 471 4231; Reuters Messaging: gyles.beckford.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.