Kiwis use cards more, but for smaller transactions in March

New Zealanders used their credit and eftpos cards more in March than a year ago, but less spending on fuel meant retail spending with cards fell from March 2008, data from Statistics New Zealand (Stats NZ) shows. Retail industries saw a decline of 0.3% in amounts spent via electronic cards in March from the same month last year, to NZ$3.715 billion, despite the amount of transactions rising 4.9%. Year on year March growth in the total value of transactions (all industries) using electronic cards slowed further in March to 1.3% from March 2008. It fell from 3.7% growth in 2008, 9.6% in 2007 and 11% in 2006. The total value spent through cards in March was NZ$4.78 billion. Core retail spending (which makes up most of the retail figure) through electronic cards rose 1.1% to NZ$3.084 billion from March 2008, while the volume of transactions rose 6.5%. The difference between retail and core retail is largely the automotive fuel retailing category. The price of petrol fell by just under 20 cents, or 9%, between March 2008 and March 2009 using Ministry of Economic Development figures. Seasonally adjusted card spending fell 0.5% from February, Stats NZ said. "The biggest contributors to the overall decrease were the automotive fuel retailing and non-retail (services, including travel and health, and wholesaling) industries "“ neither of which are part of core retail," Government statistician Geoff Bascand said.