Fuel drives increase in September electronic card spending

The total Electronic Card Transaction (ECT) series increased 1.0 percent in value in September 2007 on aseasonally adjusted basis, Statistics New Zealand said today.

Fuel price rises appeared to be the maindriver of the increase in the total ECT series, and also for much of the growth in seasonally adjusted salesfor the motor vehicle-related industry.

Non-retailing industries also increased in September compared with August, as did the consumables anddurables industries, but at a lower rate.

The overall trend was 8.4 percent higher in September 2007 than in September 2006. While this was upslightly on the result for August 2007, the annual increase has been declining gradually since the seriesbegan in October 2002.

The trend reflects not only changes in spending and prices, but also changes inmerchants' and customers' use of payment methods.In the retail industries, the seasonally adjusted value of card transactions increased 1.2 percent inSeptember 2007 compared with August 2007.

The seasonally adjusted core retail ECT series increased 0.8percent over the same period.In September 2007, there were 79 million electronic card transactions totalling $4.5 billion.

The ECT series measures the number and value of debit, credit and charge card transactions with NewZealand-based merchants.

It is a census of all card transactions processed within New Zealand.Transactions by overseas card-holders in New Zealand are included; transactions by New Zealand card-holders overseas are excluded.

The data is being released as an experimental series and Statistics NZ acknowledges the cooperation ofthe private sector in providing the data for publication