Consumer spending up in Gisborne

Five percent increase from same month last year.

Five percent increase from same month last year.

NZ Herald picture

FOLLOWING a multimillion dollar economic boost from last week’s bull sales, consumer spending last month in Gisborne rose by more than $2m.

The latest data from Paymark, which processes more than 75 percent of all electronic transactions, counted 960,000 credit and debit card transactions in Gisborne, more than eight percent more than last June.

That amounted to $40 million, which represents a five percent hike from the same month last year.

The annual bull sales season wrapped up last Friday after organisers said close to $4.4 million changed hands across the Gisborne-Wairoa district’s stud farms.

Paymark said that nationally in dollar terms, the largest extra spending was in Auckland/Northland (up $9m) while in percentage terms the highest boost to growth was in Bay of Plenty (up 16.6 percent, up 6.5 percent from a three-month average).

FOLLOWING a multimillion dollar economic boost from last week’s bull sales, consumer spending last month in Gisborne rose by more than $2m.

The latest data from Paymark, which processes more than 75 percent of all electronic transactions, counted 960,000 credit and debit card transactions in Gisborne, more than eight percent more than last June.

That amounted to $40 million, which represents a five percent hike from the same month last year.

The annual bull sales season wrapped up last Friday after organisers said close to $4.4 million changed hands across the Gisborne-Wairoa district’s stud farms.

Paymark said that nationally in dollar terms, the largest extra spending was in Auckland/Northland (up $9m) while in percentage terms the highest boost to growth was in Bay of Plenty (up 16.6 percent, up 6.5 percent from a three-month average).

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