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.

Key facts

These statistics are based on electronic card transactions during November 2010. Figures are seasonally adjusted unless otherwise stated. See the 'Technical notes' section for industry descriptors.

 Changes in the value of transactions (compared with October 2010) were as follows:

• Total electronic card transactions were up (1.1 percent).
• Transactions in the retail industries were up (1.4 percent).
• Transactions in the core retail industries were up (1.0 percent).
• By industry group, durables and fuel retailing had the largest increases.

The actual (not seasonally adjusted) value of transactions in the core retail series was up 5.9 percent from November 2009.