Gisborne spending rise among the highest

We've enjoyed more than 10 percent growth compared to the same month last year.

We've enjoyed more than 10 percent growth compared to the same month last year.

CONSUMER spending in Gisborne rose an extra $3.2 million last month, the second-highest percentage rise in New Zealand, new figures show.

Paymark’s latest electronic transactions statistics show there were 920,000 debit and credit card transactions in Gisborne over the month.

That was a 10.3 percent rise in the number of transactions compared to the same month the previous year.

Only Hawke’s Bay (12.3 percent) had a steeper rise in transaction numbers, while Gisborne also had the nation’s second-highest percentage growth in the value of transactions, which rose 8.4 percent to $38.9m.

Only Bay of Plenty (8.6 percent) had a bigger percentage rise in spending.

“On a regional basis, spending growth between July 2015 and July 2016 was strongest in Bay of Plenty, Gisborne and Hawke’s Bay and weakest in West Coast, Palmerston North and Nelson”, a Paymark spokesman said.

“There were two key driving forces in the economy during the first half of 2016: housing and tourism.”

Nationally, annual spending growth was 11.4 percent. Annual spending growth was 14.8 percent among food and beverage service merchants.

“In part, this high growth is due to continued pick-up of contactless card payment but it is also reflective of strong tourism spending.”

Paymark processes more than 75 percent of all card transactions and its statistics include point-of-sale cash withdrawals.

CONSUMER spending in Gisborne rose an extra $3.2 million last month, the second-highest percentage rise in New Zealand, new figures show.

Paymark’s latest electronic transactions statistics show there were 920,000 debit and credit card transactions in Gisborne over the month.

That was a 10.3 percent rise in the number of transactions compared to the same month the previous year.

Only Hawke’s Bay (12.3 percent) had a steeper rise in transaction numbers, while Gisborne also had the nation’s second-highest percentage growth in the value of transactions, which rose 8.4 percent to $38.9m.

Only Bay of Plenty (8.6 percent) had a bigger percentage rise in spending.

“On a regional basis, spending growth between July 2015 and July 2016 was strongest in Bay of Plenty, Gisborne and Hawke’s Bay and weakest in West Coast, Palmerston North and Nelson”, a Paymark spokesman said.

“There were two key driving forces in the economy during the first half of 2016: housing and tourism.”

Nationally, annual spending growth was 11.4 percent. Annual spending growth was 14.8 percent among food and beverage service merchants.

“In part, this high growth is due to continued pick-up of contactless card payment but it is also reflective of strong tourism spending.”

Paymark processes more than 75 percent of all card transactions and its statistics include point-of-sale cash withdrawals.

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