Electronic card spending up in October

After adjusting for seasonal effects, the value of the total Electronic Card Transaction (ECT) series increased 0.5 percent in October 2008 compared with September 2008, Statistics New Zealand said today. This follows an increase of 0.8 percent in September.

The value of the seasonally adjusted retail ECT series was also up 0.5 percent in October 2008, following a flat September month. The durables, consumables and apparel industries experienced the largest increases, while fuel retailing was the only industry to record a decrease.

The seasonally adjusted core retail ECT series (which excludes the motor vehicle-related industries) increased 1.0 percent in October, following a decrease of 0.3 percent in September.

The trend for the total ECT series had been comparatively flat in early 2008, but has strengthened in recent months.

There were 90 million electronic transactions in October 2008 with a value of $4.8 billion.