a day ago
Consumer spending on the rise
The June quarter will be the first quarter of annual growth since early 2025, Worldline data indicates.
Photo:
Yiting Lin / RNZ
Consumer spending is on the rise, according to latest payments data.
Payment services company Worldline data indicates there was a 0.8 percent year on year increase last month, with $3.6 billion spent through all core retail merchants.
Worldline NZ chief sales officer Bruce Proffit said the slightly higher level of spending in June followed a similar pattern seen in the previous two months.
"Core retail spending had lifted above year-ago levels in April and May, and the continued modest annual growth in June will mean the just-completed June quarter will be the first quarter of annual growth since early 2025."
Proffit said the 1.2 percent annual growth rate for the quarter may prove significant in the second half of 2025.
"While June is historically the slowest month of the year for retail merchants, June this year was set to be even slower than last year given a Monday replaced a Saturday in the calendar. So, it is especially encouraging to see positive annual growth recorded."
However, consumer spend through Worldline's network of hospitality merchants was down 2.4 percent on last year.
"The decline was greater in Auckland/Northland (-4.3 percent), while the decline was only slight in Nelson (-0.5 percent), with the Nelson fall largely due . . . to major weather events."
Consumer spending was up in the Waikato region (+3.3 percent), before and after the annual mid-month Fieldays event in Hamilton.
Total annual core retail spending growth for June was highest in Whanganui (+6.9 percent), Taranaki (+4.1 percent) and Nelson (+4.0 percent), while spending declined on the same month last year in Wellington (-1.8 percent) and Auckland/Northland (-0.7 percent).
