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Electronic retail card spend increases by 3.6% and equates to $436 million

Electronic card retail card spending in Manawatū for the June 2023 quarter equated to $436 million, a 3.6% increase from the same period in 2022.

Although an increase regionally, total electronic retail spend was lower than the New Zealand average which saw a growth rate of 3.8%.

For the June 2023 quarter, the breakdown is as follows.

  • Palmerston North city - $366 million and a 3.9% increase
  • Manawatū district - $70 million and a 3.6% increase

Manawatū also experienced an annual increase in retail spending with year on year growth sitting at 7.4% which sits below the New Zealand average of 12.2%.

Annual growth was mainly supported by accommodation spend with a 38% increase while art, recreation and visitor transport saw an increase of 28.7%. Spend in cafes, restaurants, bars and takeaways saw an 18.8% increase while fuel and automotive grew by 10.3%.

The annual growth rates above are higher than the annual inflation rate of 6% as reported in June 2023, indicating positive growth.

To better understand what’s influenced these figures, our greatest sectors of spend, and annual growth supported by spending in tourism and travel (such as art, recreation, accommodation, cafes, and restaurants), check out the latest Retail Report.

If you have any questions on this data, we welcome questions or comments through [email protected].

This was published in the Economic Updates newsletter on August 14, 2023. Sign up here to receive our newsletters directly

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