Plastic spending 8 percent up

$40.2 million was spent on credit and debit card transactions in Gisborne last month.

$40.2 million was spent on credit and debit card transactions in Gisborne last month.

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NEW data suggests consumer spending here continues to rise.

Latest figures from Paymark, which processes transactions from more than 75 percent of the nation’s eftpos terminals, recorded that $40.2 million was spent on credit and debit card transactions in Gisborne last month, a rise of 8 percent on the same month last year.

Paymark processed a total of 950,000 transactions across the month, 7.1 percent more than the same time last year.

A Paymark spokesman said merchants had benefited from May having an extra weekday this year.

Nationally, underlying spending through Paymark increased 1.3 percent in seasonally-adjusted terms during May. On an annual basis, underlying spending was up 7.5 percent.

“Merchants in the non-retail sectors experienced 10 percent higher spending in May, showing among the likes of doctors (11 percent), beauty and hairdressing salons (11.8 percent) and plumbing services (10.4 percent). Even stronger annual growth was experienced among automotive merchants such as automotive repairs and services (14.6 percent) and rental cars (14 percent).

“Within the core retail sector, accommodation (16.2 percent), food takeaway (12.0 percent), liquor retail (10.5 percent) and tyre retail (9.7 percent) saw high annual growth rates.

“This mix of sector growth is consistent with tourism remaining a strong driving force, even on the fringe of the traditional summer season.”

NEW data suggests consumer spending here continues to rise.

Latest figures from Paymark, which processes transactions from more than 75 percent of the nation’s eftpos terminals, recorded that $40.2 million was spent on credit and debit card transactions in Gisborne last month, a rise of 8 percent on the same month last year.

Paymark processed a total of 950,000 transactions across the month, 7.1 percent more than the same time last year.

A Paymark spokesman said merchants had benefited from May having an extra weekday this year.

Nationally, underlying spending through Paymark increased 1.3 percent in seasonally-adjusted terms during May. On an annual basis, underlying spending was up 7.5 percent.

“Merchants in the non-retail sectors experienced 10 percent higher spending in May, showing among the likes of doctors (11 percent), beauty and hairdressing salons (11.8 percent) and plumbing services (10.4 percent). Even stronger annual growth was experienced among automotive merchants such as automotive repairs and services (14.6 percent) and rental cars (14 percent).

“Within the core retail sector, accommodation (16.2 percent), food takeaway (12.0 percent), liquor retail (10.5 percent) and tyre retail (9.7 percent) saw high annual growth rates.

“This mix of sector growth is consistent with tourism remaining a strong driving force, even on the fringe of the traditional summer season.”

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