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Retail card spending growth stronger than expected

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Retail card spending growth stronger than expected

By: Sam Thompson | Business News | Friday May 11 2012 13:16

 

Retail card spending growth in April was slightly stronger than expected.

The latest figures shows 0.8 percent rise in spending.

The most notable increase was in consumables followed by the durables and hospitality industries.

ASB chief economist Nick Tuffley says it provides further evidence that consumer spending continues to climb at a moderate rate.

"On the retail front we're going to see continued growth but it will be gradual. Households are still being fairly cautious with how they spend their money and that sort of state of affairs is likely to remain with us a little while longer."

Photo: NZ Herald

 

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