November card spending down despite rise in volumes

The average amount spent on each transaction fell year-on-year. The November 2008 average was NZ$54.13 per transaction, compared to NZ$56.15 in November 2007 and NZ$56.32 in November 2006.   Transaction values also fell 2.8% from October 2008 on a seasonally adjusted basis. This was the biggest drop in the series since it began in October 2002. "The fuel retailing industry was the main driver of the fall in the total electronic card transaction value series in November 2008, which coincided with a substantial decline in fuel prices. The non-retail industries also decreased in November compared with October," Government Statistician Geoff Bascand said.