The total value of electronic retail spending in New Zealand was up 8.8 percent on month in October, Statistics New Zealand said on Tuesday – accelerating from 5.4 percent in September.

On a yearly basis, electronic retail spending jumped 8.2 percent after gaining 7.3 percent in the previous month. Spending in the core retail industries rose an annual 10.3 percent.

By industry, the movements were: durables, up NZ$244 million (17 percent); consumables, up NZ$201 million (9.5 percent); apparel, up NZ$39 million (13 percent); hospitality, up NZ$33 million (3.0 percent); motor vehicles (excluding fuel), up NZ$21 million (11 percent); and fuel, down NZ$65 million (11 percent).

The total value of electronic card spending, including the two non-retail categories (services and other non-retail) was up NZ$235 million (2.9 percent) compared with October 2019.

The material has been provided by InstaForex Company – www.instaforex.com