Card spending somewhat bounces from April’s record low

  • Jun 11, 2020 NZST
  • Team Kalkine
Card spending somewhat bounces from April’s record low

As per Stats NZ, retail card spending has improved by NZD 2.3 billion in May after the businesses have re-opened. In April, it had hit a deficient level due to the pandemic related lockdown level 4.

Retail statistics manager Kathy Hicks said spending on appliances, furniture, and groceries in May 2020 was more than the expenditure on these goods on the same month of the previous year. However, sales for hotels, restaurants, motels, and cafes is below the normal levels.

The notable increase in retail spending was unexpected and the jump in the same was seen with the re-opening of the economy.

 


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