New Zealand’s largest bank is reporting a “strong” lift in card spending during May.
ANZ NZ’s chief economist Sharon Zollner said card spending in May rose 1.8% from April, and saw a 4.8% rise compared to May 2025.
“ANZ May card data showed a strong 1.8% monthly lift in spending, with sharp bounce-back at discretionary-type stores,” Zollner said.
“Both monthly and annual growth was positive for nearly every category in May. Every category saw higher monthly spending growth than in April, while annual growth was mixed in that regard.”
In May, card spending on hospitality rose 3.5%, apparel was up 2.9% and housing durables climbed 2.7%. Zollner noted that all data is seasonally adjusted.
Hospitality makes up 15% of total card spending, while apparel makes up 4% and housing durables, which is part of the durables category, makes up 17% of card spend.
Bars, fast food and cafes & restaurants all saw solid lifts in the month of May, with spending in those areas all jumping over 2% compared to April.
Zollner said hospitality accommodation spending has been subdued for some time, but jumped nearly 13% in May month-on-month and seasonally adjusted.
Most apparel category stores saw solid growth in spending in May after falls in April, except Children and Infants Wear which was down 4.4%.
Zollner said there was “overwhelmingly positive growth” in May spending across the durables category.
“It seems consumers are in the mood to just get on with it,” she said.
The only headline spending category to report a drop in May was motor vehicles & fuel, which fell 1% as fuel prices retreated. However, on an annual basis, spending on motor vehicles and fuel was still up 10.3% compared to May 2025.
“A decline in fuel prices in May seems to have set the scene for the rebound seen in other spending,” Zollner said.
Spending on public transport rose 3.6% month-on-month after a fall in April, and was also trending higher annually in May, up 7.4% year-on-year.
We welcome your comments below. If you are not already registered, please register to comment
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.